River Babylon, an archaeology professor, invests $95,000 in a parcel of land that is expected to increase in value by 14 percent per year for the next eight years. He will take the proceeds and provide himself with a 20-year annuity.Assuming a 8 percent interest rate, how much the payments will be for the annuity? Use Appendix A and Appendix D. (Round "PV Factor" to 3 decimal places. Round the final answer to the nearest dollar amount.)