Question: Chester Inc. will launch a new project. This project will generate a 7-year annuity of fourteen $5000 semi-annual cash inflows. The first cash flow will

Chester Inc. will launch a new project. This project will generate

Chester Inc. will launch a new project. This project will generate a 7-year annuity of fourteen $5000 semi-annual cash inflows. The first cash flow will occur 4.5 years from now. The discount rate used to evaluate this project is 7% compounded semiannually. What is the present value today of these cash flows generated by the new project? Answer to the nearest cent (2 decimal places) and do not include the \$ sign

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