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Sandhill Manufacturing Company leases a building for 1 4 years. The lease requires 1 4 annual payments of $ 1 9 , 0 0 0

Sandhill Manufacturing Company leases a building for 14 years. The lease requires 14 annual payments of $19,000 each, with the first payment due immediately. The interest rate in the lease is 15%. What is the present value of the cost of leasing the building? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g.52.75.)
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Present value $
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