Champion Bakers uses specialized ovens to bake its bread. One oven costs $840,000 and lasts about 3 years before it needs to be replaced. The annual operating cost per oven is $9,000. What is the equivalent annual cost of an oven if the required rate of return is 11 percent? (Round your answer to whole dollars)

$-334,374

$-354,499

$-357,817

$-352,739

$-347,827