Saul Cervantes has just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of the next five years: $13,450, $8,970, $9,050, $12,070, and $11,870. If the appropriate discount rate is 10.300 percent, what is the cost in todays dollars of the equipment Saul purchased today? (Round answer to 2 decimal places, e.g. 15.25.)

Present value

$