You are thinking of purchasing a house. The house costs

$$309,000.$ You have $$55,000$ in cash that you can use as down

payment on the house, but you need to borrow the rest of the

purchase price. The bank is offering a $25-$year mortgage that

requires annual payments and has an interest rate of $10\%$ per

year. What will be your annual payment if you sign this mortgage?

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