Use the following table to answer the question. Periods 5% 6% 7% 10% 0.95238 0.94340 0.89000 0.90703 0.86384 0.83962 0.79209 0.74726 0.82270 0.78353 0.74622 0.71068 0.67684 0.64461 0.61391 0.93458 0.87344 0.81630 0.76290 0.71299 0.66634 0.62275 0.58201 0.54393 0.50835 0.90909 0.82645 0.75132 0.68301 0.62092 0.56447 0.51316 0.46651 0.42410 0.70496 0.66506 0.62741 0.59190 0.55840 0.38554 What is the present value of $32,800 to be received in four years, if the market rate is 10% compounded annually? Round your answer to two decimal places