You are presented with an investment opportunity that will give you the following stream of cash flows: nothing for the next 5 years; at the following year, an amount of $3,000 per year until year 15; and then an amount of $8,000 per year until year 22. If your required rate of return is 8% compounded annually, what is the present value today of these cash flows?

Do not use the $ sign. Use commas to separate thousands. Use to decimals. Round to the nearest dollar. For example if you obtain $1,432.728 then enter1,433;if you obtain $432.00 then enter432