On an annual renewable lease, the monthly lease payment on office space is $300 payable at the begining of every month. What equivalent yearly payment made in advance would satisfy the lease if interest is 3.5% compounded monthly?

On an annual renewable lease, the monthly lease payment on office space is $300 payable at the begining of every month. What equivalent yearly payment made in advance would satisfy the lease if interest is 3.5% compounded monthly? The equivalent yearly payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)