On January 1, 1999, Biff purchases an annuity for 47000 dollars. The annuity makes annual payments of the form $X, 2X, X, 2X,\ldots$ with the first payment coming on January 1, 2000, and the final payment coming on January 1, 2040. Assuming an effective rate of 7.8 percent, what is $X$?

Answer = dollars.