Dynamics Telecommunications Corp. has made an investment in another company that will guarantee it a cash flow of $26,100 each year for the next five years. If the company uses a discount rate of 17 percent on its investments, what is the present value of this investment? (Round intermediate calculations to 4 decimal places, e.g. 1.2514 and final answer to 2 decimal places, e.g. 15.25.)
Present value of investment: _______________