As a result of a slowdown in operations, Tradewind Stores is offering employees who have been terminated a severance package of $$99,000$ cash paid today; $$99,000$ to be paid in one year, and an annuity of $$35,000$ to be paid each year for $6$ years.

Required:

What is the present value of the package assuming an interest rate of $11$ 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