Jason Allen has just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of each of the next five years: $10,870,$8,460,$9,120,$12,310, and $11,930. If the appropriate discount rate is 7.480 percent, what is the cost in today's dollars of the equipment Jason purchased today? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values.) Present value $