4-9 (similar to) Question Help Present value. County Ranch Insurance Company wants to offer a guaranteed annuity in units of $400, payable at the end of each year for 20 years. The company has a strong investment record and can consistently earn 11% on its investments after taxes. If the company wants to make 1% on this contract, what price should it set on it? Use 10% as the discount rate. Assume it is an ordinary annuity and the price is the same thing as present value. What price should the company set on the annuity contract? $(Round to the nearest cent.)