Concord Enterprises leases property to Hamilton, Inc. Because Hamilton is experiencing financial difficulty, Concord agrees to receive five rents of $18,000 at the end of each year, with the rents deferred 3 years. What is the present value of the five rents discounted at 9%? (Round factor values to 5 decimal places, e.g. 1.25124. Round answers to the nearest whole dollar, e.g. 5,275.)