Heidelberg Cement, a German building materials company, is considering leasing a new cement packaging machine for €250,000 per year. The lease arrangement calls for a six-year lease with an option to purchase the machine at the end of the lease for €35,000. Assuming the corporate tax rate in Germany is 30%, what is the present value of the lease outflows, including the purchase option, if lease payments are made at the end of each year and if the after-tax cost of debt is 5%?