An artist agent accepts to route a jazz artist to a new European city because there is some time down in the tour and the scheduling is convenient. The venue manager says that he can only pay a year after the concert, which is unusual. But after checking his sources, the agent agrees to the deal because he wants exposure for his artist. Two years from now, he expects to collect $150,000. If he uses a discount rate of 4% compounded quarterly, what is the present value of that concert?