You are offered a special set of annuities by your insurance company, whereby you will receive $23,600 a year for the next 7 years, nothing for the next 10 years, and then$40,000 a year for the following 12 years. How much would you be willing to pay for these annuities today, if the annuities are paid at the beginning of each year? Assume the annuities have a beta of 1.47, the expected return on the market is 12.4% and the risk free rate is 2.4%.