Assume that a year from now you will begin receiving an annual payment that will grow at 25% for the next 8 years. The first payment will be in the amount of $8.000. If the appropriate discount rate is 4.5%, what is the current value of these annual payments? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1.000.50 should be entered as 1000.50