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Sheridan Company is considering investing in an annuity contract that will return $30,690 annually at the end of each year for 19 years. What amount

Sheridan Company is considering investing in an annuity contract that will return $30,690 annually at the end of each year for 19 years. What amount should Sheridan Company pay for this investment if it earns an 7% return? (Round answer to 2 decimal places, e.g. 25.25.)

Sheridan Company should pay $ __________

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