Today is the birthday of the famous Italian-American movie actor Robert De Niro. He is 68 years old today. The average life expectancy of a 68 year old male is about 14 years. Robert De Niro wishes to purchase an annuity that will make the first payment today (giving him money to live on for the next year). He then wants a payment every year on his birthday up to and including a final payment on his 82nd birthday, 14 years from now. If Robert De Niro receives $200,000 for each payment on his birthday, starting today, what is the purchase price of the annuity if the interest rate is 4% per annum?