Charles, age 45 , would like to determine how much life insurance to purchase using the human life value approach. He assumes his average annual earnings will remain at $40,000. Of this amount, $20,084 is available annually for the support of his family. Charles will generate this income for 23 more years and he believes that 5.89 percent is the appropriate interest (discount) rate. What is Charles' human life value? (Round your answer to 2 decimal places)