Jim Smith is suing the City of New York after tripping over uneven pavement and being severely injured. Testimony was provided in the trial that Jim will be unable to work for five years. The jury is considering the damages that should be awarded to Jim Smith and will include the following: (a) The present value of the last two years' pay. Jim Smith's annual salary for the last two years would have been $50,000 and $53,000, respectively. (b) The present value of five years' future salary. Jim Smith's salary is assumed to be $56,000 per year. (c) $165.000 for pain and suffering. (d) $35,000 for court costs. Assume the salary payments are equal amounts paid at the end of each month. If the interest rate used is an EAR of 8 percent, what is the size of the payment to Jim Smith? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)