Mr. Clark makes a deposit at the beginning of every year into a savings account that earns interest at 5.3% compounded annually. He saves for eight years, then converts his savings into an annuity that pays him $2,450 at the beginning of every year for fourteen years. What is the size of the deposit he makes while he is saving?

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)