Ivanhoe Company signs a contract to sell the use of its patented manufacturing technology to Sarasota Corp. for 14 years. The contract for this transaction stipulates that Sarasota pays Ivanhoe $18,000 at the end of each year for the use of this technology. Using a discount rate of 8%, what is the value in use of the patented manufacturing technology? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 2 decimal places, e.g. 5,275.25.) Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Value in use