County ranch insurance company wants to offer a guaranteed annuity in units of

O Present value. County Ranch Insurance Company wants to offer a guaranteed annuity in units of $200, payable at the end of each year for 30 years. The oompany has a strong investment record and can consistently earn 12% on its investments after taxes. If the company wants to make 1% on this contract, what price should it set on it? Use 11% as the discount rate. Assume it is an ordinary annuity and the price is the same thing as present value. What price should the company set on the annuity contract? 3E] (Round to the nearest cent.) Enter your answer in the answer box. a is M