Curlys Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $27,000 per year forever. Assume the required return on this investment is 7.7 percent.

Required:

How much will you pay for the policy? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Policy value today