A despised football coach is scheduled to make $861,000.00 per year for the next 8 years. The first payment is scheduled to be made exactly one year from today. After a 39 record last year, the athletic department would thke to buy out the remaining 8 years of his contract. The athletic department wants to value the remaining years with a 10.00% discount rate. The coach's agent would like to use 4.00%. What is the present value of the athletic department offer? Answer format: Currency: Round to: 2 decimal places