Robben Company is considering investing in an annuity contract that will return $32,500 annually at the end of each year for 18 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 10% return? (Round answer to 2 decimal places, e.g. 25.25.)

Robben Company should pay