Antique Billy's will generate $47,000 in annual revenue each year for the next seven years as a result of a new information database. If the appropriate interest rate is 7.4 percent, what is the present value of the savings? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Multiple Choice

• $242,390.12

• $249,802.17

• $236,712.82

• $252,415.91

• $261,142.41