Your first job out of college will pay you $65,000 in year 1 (exactly one year from today), growing at a rate of 2.8% per year thereafter. You will also receive a one time bonus of $44,000 at the same time as your first salary. You plan to retire in 37 years (you'll receive 37 years of salary). If the applicable discount rate is 7%, what is the present value of these future earnings today? Round to the nearest cent.