Sheldrick Contracting owes Western Equipment $$79,000$ payable on June $14.$ In late April, Sheldrick has surplus cash and wants to settle its debt to Western Equipment, if Western will agree to a fair reduction reflecting the current $5\mathrm{.}30\%$ Interest rate that short$-$term funds can earn.

What amount on April $29$ should Sheldrick propose to pay to Western? $($Do not round intermediate calculations and round your final answer to $2$ decimal places.$)$

Sheldrick Contracting should propose to pay $