A company purchased a deferred annuity that provided it with annuity payments of $15,000 at the end of every three months for ten years. At the end of this ten-year period, the account would have a balance of $10,000 after the last payment has been withdrawn. Calculate the purchase price of the deferred annuity if the first payment is to be received in 4 years and 3 months, and the interest rate is 5.75% compounded monthly.

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