As a result of a slowdown in operations, Tradewind Stores is offering employees who have been terminated a severance package of $$95,000$ cash paid today; $$95,000$ to be paid in one year; and an annuity of $$39,000$ to be paid each year for $7$ 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.)$