Beloit Co. is a manufacturer of mini-doughnut machine makers. You have asked Beloit to quote a price for a custom-designed doughnut machine to begin your doughnut shop next year. Once begin operation, you intend to use the machine for 6 years. The expected annual operating net cash flow is estimated to be $109,184. The expected salvage value of the machine at the end of its operating life is about 16% of the initial purchase price. To expect a required rate of return of 20% on the investment, what is the maximum amount that you should spend on purchasing the doughnut machine