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Cullumber Company is considering investing in an annuity contract that will return $ 31,500 annually at the end of each year for 16 years Click

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Cullumber Company is considering investing in an annuity contract that will return $ 31,500 annually at the end of each year for 16 years Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided) What amount should Cullumber Company pay for this investment if it earns an 9% return? (Round answer to 2 decimal places, eg. 25.25.) Cullumber Company should pay $

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