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 $45,000 now, and $15,000 at the beginning of each of the six years of the licensing agreement, starting in one year. If interest is 6.95% 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.)