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Robben Company is considering investing in an annuity contract that will return $40,000 annually at the end of each year for 15 years. Click here

Robben Company is considering investing in an annuity contract that will return $40,000 annually at the end of each year for 15 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 Robben Company pay for this investment if it earns an 8% return? (Round answer to 2 decimal places, e.g. 25.25.) Robben Company should pay

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