You are talking to Uncle JoeB is saving his money and earning $4\%$ per year on New Years Day in $2023.$ He tells you that you will receive annual payments of $$13,000$ per year for $12$ years when he dies. Uncle JoeB lives another $3$ years and dies on Jan $1,2026.$ What is the present value of this inheritance today when you are talking to him? See hints.

$1-$ When does his inheritence start?

$2-$How many years from now?

$3-$When it starts, what is it worth?