Paul White 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: $10,080, $8,020, $9,950, $12,340, and $11,760. If the appropriate discount rate is 6.425 percent, what is the cost in todays dollars of the equipment Paul purchased today? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values.)