You want to lease a set of golf clubs from Pings Ltd. The lease contract is in the form of 24 equal monthly payments at a stated annual interest rate of 10 percent, compounded monthly. Since the clubs cost $2,700 retail, Pings wants the PV of the lease payments to equal $2,700. Suppose that your first payment is due immediately.

What will your monthly lease payments be? (Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).)

Lease payment $_____________