A software designer has been asked to build a few apps for a start$-$up company. The company can't pay him a salary but rather will pay him a commission on sales of the smart

phone apps that he writes. He will get a $37\mathrm{.}00\%$ royalty for his effort. The company has projected the following sales over the next three years.

Year

$1$

$2$

$3$

App Sales

$$54,427\mathrm{.}00$ $$62,778\mathrm{.}00$ $$14,971\mathrm{.}00$

The designer has a $9\mathrm{.}00\%$ personal discount rate. What is the present value of his contract today?

Answer Format: Currency: Round to: $2$ decimal places.