Please answer the following accounting question.

Crane Company is considering investing in an annuity contract that will return $36,500 annually at the end of each year for 14 years. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Crane Company pay for this investment if it earns an 7% return? (Round answer to 2 decimal places, eg. 25.25.) Crane Company should pay $