$($Related to Checkpoint $6\mathrm{.}2)($Present value of an ordinary annuity$)$ What is the present value of $$2,500$ per year for $8$ years discounted back to the present at $11$ percent?

The present value of $$2,500$ per year for $8$ years discounted back to the present at $11$ percent is $ $($Round to the nearest cent$)$