Shamrock Corporation bought a new machine and agreed to pay for it in equal annual installments of $5,550 at the end of each of the next 10 years. Assuming that a prevailing interest rate of 8% applies to this contract, how much should Shamrock record as the cost of the machine? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.)