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 $51,000 now, and $17,000 at the beginning of each of the eleven years of the licensing agreement, starting in two years. If interest is 5.5% 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)

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 $51,000 now, and $17,000 at the beginning of each of the eleven years of the licensing agreement, starting in two years. If interest is 5.5% 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.)