Saul Cervantes has just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of the...

Saul Cervantes has just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of the next five years: $17,920, $8,350, $9,575, $12,710, and $11,540. If the appropriate discount rate is 9.950 percent, what is the cost in today's dollars of the equipment Saul purchased today? (Round answer to 2 decimal places, e.g. 15.25.)

Present value