Ajax Corporation has hired Brad OBrien as its new president. Terms included the companys agreeing to pay retirement benefits of $18,600 at the end of each semiannual period for 10 years. This will begin in 3,285 days. If the money can be invested at 8% compounded semiannually, what must the company deposit today to fulfill its obligation to Brad?

(Please use the following provided Table and Table 12.3.)

(Use 365 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)