Woody Lightyear is considering the purchase of a toy store from Andy Enterprises. Woody expects the store will generate net cash flows (cash inflows less cash outflows) of $54,000 per year for 20 years. At the end of the 20 years, he intends to sell the store for $540,000. To finance the purchase, Woody will borrow using a 20-year note that requires 9% interest. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answer to 2 decimal places.)

Required:

What is the maximum amount Woody should offer Andy for the toy store? (Assume all cash flows occur at the end of each year.)