John and Sally Claussen are contemplating the purchase of a hardware store from John Duggan. The Claussens anticipate that the store will generate cash flows of $90,000 per year for 20 years. At the end of 20 years, they intend to sell the store for an estimated $600,000. The Claussens will finance the investment with a variable rate mortgage. Interest rates will increase twice during the 20-year life of the mortgage. Accordingly, the Claussens' desired rate of return on this investment varies as follows: What is the maximum amount the Claussens should pay John Duggan for the hardware store? (Assume that all cash flows occur at the end of the year.) (Use pv of $1 and pvA of $l (Round "PV Factors" to 5 decimal places, intermediate and final answer to the nearest dollar amount.)