Sheridan Corporation bought a new machine and agreed to pay for it in equal annual installments of $$4,520$ 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 Sheridan record as the cost of the machine? $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.$

Cost of the machine to be recorded