Bates Company issued $1,300,000, 12-year bonds and agreed to make annual sinking fund deposits of $75,000. The deposits are made at the end of each year into an account paying 7% annual interest. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount will be in the sinking fund at the end of 12 years? (Round answer to 2 decimal places, e.g. 25.25.)

Amount in the sinking fund