Your friend needs money today and can pay you $5,118 in 6 year, $2,177 in 9 years, $9,842 in 11 years and $527 at the end of each quarter starting at the beginning of year 5 and ending at the beginning of year 18. How much would you be willing to lend him today if you both agree that 8.81% interest per year is fair. Assume all interest is compounded quarter.