As a result of a slowdown in operations, Tradewind Stores is offering employees who have been terminated a severance package of $104,000 cash paid today; $104,000 to be paid in one year; and an annuity of $40,000 to be paid each year for 4 years.

What is the present value of the package assuming an interest rate of 12 percent?

please explain me how to do it. Thank you! (:

As a result of a slowdown in operations, Tradewind Stores is offering employees who have been terminated a severance package of $104,000 cash paid today; $104,000 to be paid in one year; and an annuity of $40,000 to be paid each year for 4 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 Annulty of \$1.) Note: Use appropriate factor(s) from the tables provided. Round the final answer to nearest whole dollar