Hornet Motors purchased a custommade metal press for use in repairing wrecked cars. The press was installed on January 2, 2018. The press had no known market value. Hornet agreed to pay $310,000

on December 31, 2020 and asked for a 6% interest rate. At the time, Hornet's incremental borrowing rate was 8%. The seller agreed to the terms and requested interest payments on December 31 each year. What is the selling price of the machine given the terms and rates provided? (Do not round any intermediate calculations. Round your final answer to the nearest dollar.)

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