Your friend needs money today and can pay you $5,600 in 5 year, $2,215 in 7 years, $9,680 in 12 years and $402 at the end of each quarter starting at the beginning of year 3 and ending at the beginning of year 17. How much would you be willing to lend him today if you both agree that 8.31% interest per year is fair. Assume all interest is compounded quarter.