The annually compounded discount rate is $13\mathrm{.}0\%.$ You are asked to calculate the present value of a $15-$year annuity with payments of $$51,700$ per year.

Calculate the PV if the annuity payments arrive at one$-$year intervals. The first payment arrives one year from now.

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

Calculate the PV if the first payment arrives in six months. Following payments arrive at one$-$year intervals $($i$.$e$.,$ at $18$ months, $30$ months, etc.$).$

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.