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Robben Company is considering investing in an annuity contract that will return $37,000 annually at the end of each year for 14 years. (For calculation
Robben Company is considering investing in an annuity contract that will return $37,000 annually at the end of each year for 14 years. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Robben Company pay for this investment if it earns an 9% return (Round answer to 2 decimal places, e.g. 25.25.) Robben Company should pay $ ___________
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