A project will generate a cash payment of $30,000 next year, and the cash flow will be increasing by 6% every year over the following seven years. Then, in year nine, the project will require a one-time investment (clean-up cost) of $500,000. The project will exist for nine years, paying out cash for eight years and rquiring one cash outflow in year nine. What is the present value of this project if the discount rate is 7% ? 145.623 217,098282,90254,869