As a result of a slowdown in operations, Tradewind Stores is offering employees who have been terminated a severance package of $108,000 cash paid today: $108,000 to be paid in one year; and an annuity of $21,000 to be paid each year for 7 years. Required: What is the present value of the package assuming an interest rate of 12 percent? (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.) Note: Use appropriate factor(s) from the tables provided. Round the final answer to nearest whole dollar. Present Value I