How much do you have to deposit today so that beginning 11 years from now you can withdraw

$11,000

a year for the next

8

years (periods 11 through

18)

plus an additional amount of

$22,000

in the last year (period

18)?

Assume an interest rate of

8

percent.

Question content area bottom

Part 1

The amount of money you have to deposit today is

$enter your response here.

(Round to the nearest cent.)