Suppose that you will receive annual payments of $$28,000$ for a

period of $14$ years. The first payment will be made $9$ years from

now. If the interest rate is $11\mathrm{.}00\%,$ what is the value of the

annuity in year $8,$ what is the current value of this stream of cash

flows?$($Do not round intermediate calculations. Round

your answer to $2$ decimal places.$)$

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