Carla Vista Co. signs a contract to sell the use of its patented manufacturing technology to Flint Corporation for 16 years. The contract for this transaction stipulates that Flint Corporation pays Carla Vista $20,000 at the end of each year for the use of this technology. Using a discount rate of 8%, what is the value in use of the patented manufacturing technology?(For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 2 decimal places, e.g. 5,275.25.)