An investment will pay $16,600 at the end of each year for eight years and a one-time payment of $166,000 at the end of the eighth year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use the appropriate factor(s) from the tables provided. Required: Determine the present value of this investment using a 8 percent annual interest rate. Note: Round your intermediate calculations and final answer to nearest whole dollar.