NOTE: Please explain how to solve this using a financial calculator, NOT by hand (e.g. Texas Instruments BA II Plus Pro). What are the inputs to get the correct answer? I tried N=25, I/Y=8.5%, PMT=24,000 then CPT for PV to get $245,621 which is incorrect. Why?

Sue just purchased an annuity that will pay $24,000 a year for 25 years, starting today. What was the purchase price if the discount rate is 8.5 percent?