Emerson developed a new style of camping trailer. He is considering a licensing agreement with Easy-Tow, who will manufacture the new trailer. They are proposing to pay him $38,000 now, and $19,000 at the beginning of each of the twelve years of the licensing agreement, starting in two years. If interest is 9.15% compounded semi-annually, what is the agreement worth today? The agreement is worth today (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)