Problem $5-33$ Delayed Annuities $($LO$3)$

Suppose that you will receive annual payments of $$17,000$ for a period of $10$ years. The first payment will be made $4$

years from now. If the interest rate is $5\%,$ what is the present value of this stream of payments?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.