How Much Money Must Be Deposited Now, At 6% Interest Compounded Semiannually, To Yield An Annuity Payment At $4,000 At The End Of Each Six-month Period,for A Total Of Five Years? Round Your Answer To The Nearest Cent.

When I asked my financial calculator to compute the Present Value with the following information
  interest = 3%
  number of payments = 10
  payment = -4000
  future value = 0
it told me the present value is $34,120.81.

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The interest period is the same as the payment period, so we can consider each period to be 6 months. The interest earned in that period is 3%.