Problem $5-18$ Calculating Present Values $[$LO $4]$

An investment will pay you $$83,000$ in five years. Assume the appropriate discount rate is $6\mathrm{.}75$ percent compounded daily. What is the

present value?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$ Use $365$ days in a year.

Answer is complete but not entirely correct.