$\frac{130,000}{\left(1+\frac{.03}{1}\right)^{14}}$

Step 1 ：Given a future value (FV) of $130,000, an interest rate (r) of 3% per period, and a total of 14 periods (n), we are tasked with finding the present value (PV).

Step 2 ：The formula for calculating the present value is: \(PV = \frac{FV}{(1 + r)^n}\)

Step 3 ：Substituting the given values into the formula, we get: \(PV = \frac{130,000}{(1 + 0.03)^{14}}\)

Step 4 ：Solving the equation gives us a present value (PV) of approximately $85945.31

Step 5 ：Final Answer: \(\boxed{85945.31}\)