Following the birth of a child, a parent wants to make an initial investment Po that will grow to $40,000 for the child's education at age 17....

Following the birth of a child, a parent wants to make an initial investment Po that will grow to $40,000 for the child's education at age 17. Interest is compounded continuously at 5%. What should the initial investment be? Such an amount is called the present value of $40,000 due 17 years from now. 

The present value is about $= 

(do not round until final answer. THEN round to two decimal places as needed)