Tatsuo has just been awarded a four-year scholarship to attend the university of his choice. The scholarship will pay $13,500 each year for the next four years to reimburse normal school-related expenditures. Each $13,500 payment will be made at the end of the year, contingent on Tatsuo maintaining good grades in his classes for that year. Assuming an annual interest rate of 7.0%, determine the value today of recelving this scholarship if Tatsuo maintains good grades. (EV of \$1, PV of \$1, FVA of \$1, and PVA of \$1) (Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places.)