You are thinking of purchasing a house. The house costs $$276,000.$ You have $$50,000$ in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a $20-$year mortgage that requires annual payments and has an interest rate$\_$of $11\%$ per year. What will be your annual payment if you sign this mortgage?

The annual payment will be $,($Round to the nearest cent.$)$