Value of a retirement annuityPersonal Finance ProblemAn insurance agent is trying to sell you animmediate-retirement annuity, which for a single amount paid today will provide you with $7,100 at the end of each year for the next 35 years. You currently earn 5% onlow-risk investments comparable to the retirement annuity. Ignoringtaxes, what is the most you would pay for thisannuity?

----Ignoringtaxes, the most you would pay for this annuity is $________. (Round to the nearestcent.)