You learn that your inheritance will allow you to receive the amount of $5800 at the end of each year for a total of 12 consecutive years.

You learn that your inheritance will allow you to receive the amount of $5800 at the end of each year for a total of 12 consecutive years. However, because of your young age, these amounts will not begin until the end of 7 years. If the interest rate is 5.05%, what is the equivalent present value of the inheritance?