$7.$ A real estate investment has the following expected cash flows:

Year Cash Flows

$1$ $$14,000$

$211,000$

$322,000$

$427,000$

The discount rate is $11$ percent. What is the investment$$s present value? Round your answer to $2$ decimal places; for example $2345\mathrm{.}25.$

$8.$Michael wants to have $$60,000$ in $9$ years on a savings plan that requires monthly contributions. If he can earn $9$ percent APR with monthly compounding on the savings plan, what is the amount that he will have to invest every month for the next $9$ years? Round it to two decimal places and do not include the $ sign, e$.$g$.,1234\mathrm{.}56.$