A corporation has purchased a new piece of equipment for $$644,000,$ with $$46,000$ of that total being costs for installation.$$ After discussions with its accounting firm the company plans to depreciate the installation costs straight$-$line over $5$ years.$$ The cost of capital is $7\mathrm{.}5\%$ and the Tax Rate is $22\%.$ Rounded to the nearest dollar, what is the present value of the cost of the equipment?