Derek will deposit $1,906.00 per year into an account starting today and ending in year 9.00. The account that earns 14.00%. How much will be in the account 9.0 years from today?

Derek has the opportunity to buy a money machine today. The money machine will pay Derek $20,727.00 exactly 9.00 years from today. Assuming that Derek believes the appropriate discount rate is 8.00%, how much is he willing to pay for this money machine?

Answer format in currency round to two decimal places