A company is considering purchasing a new machine tool. In addition to the initial purchase and installation costs, management is concerned about the machine's maintenance costs, which are expected to be $\backslash (\backslash$$ $1,374\backslash )$ at the end of the first year of the machine's life and increase $7\mathrm{.}4$ percent$/$year thereafter. The machine tool's expected life is $14$ years. Company management would like to know the present worth equivalent for expected costs. If the firm's time value of money is $10$ percent$/$year compounded monthly, what is the present worth equivalent? State your answer with $2$ decimal places