An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at the child’s birth. The details of the policy are as follows: The purchaser (say, the parent) makes the following six payments to the insurance company: First birthday: $ 890 Second birthday: $ 890 Third birthday: $ 990 Fourth birthday: $ 990 Fifth birthday: $ 1,090 Sixth birthday: $ 1,090 After the child’s sixth birthday, no more payments are made. When the child reaches age 65, he or she receives $230,000. If the relevant interest rate is 10 percent for the first six years and 6 percent for all subsequent years, what is the value of the policy at the child's 65th birthday? (Do not round intermediate calculations and round your answer to 2 decimal places, e. G., 32.16.)