What is the present value of $$1,725$ per year, at a discount rate

of $8$ percent, if the first payment is received $7$ years from now and

the last payment is received $23$ years from now? $($Enter rounded

answer as directed, but do not use rounded numbers in intermediate

calculations. Round your answer to $2$ decimal places $($e$.$g$.,$

$32\mathrm{.}16).)$