Tripp Reeler is considering purchasing a piece of property in Darby, Montana. He anticipates owning the land for 13 years at which time he would sell it for $525000.00. Assuming he does not rent, farm, or ranch the land or receive any other cash flows during his ownership, what is the most he would be willing to pay for the land assuming a discount rate of 7.60% that is continuously compounded?

$_____________________

Place your answer in box and include at least two decimal places. Do not use a dollar sign or comma as part of your answer. For example, an answer of $222,000 would be placed as 222000. Use at least four places of accuracy in your analysis.