Question $15$

$14$ pts

You are offered a court settlement in the following terms: you will receive $8$ equal payments of $$7,887$ each every year, with the first payment being made $3$ years from now. The current annual interest rate is $6\%.$ Assume yearly compounding. What is this settlement worth in present value terms?

Enter your answer in the form of dollars, rounded to the nearest cent, and without the dollar sign $(\text{'}$$$\text{'}).$