Laura Hall has won a state lottery and will receive a payment of $89,000 every year, starting today, for the next 20 years. If she invests the proceeds at a rate of 5.65 percent, what is the present value of the cash flows that she will receive? (Round factor values to 4 decimal places, e.g. 1.5212 and final answer to nearest whole dollar, e.g. 5275.)