Assume that Social Secunty promises you $50,000 per year starting whon you rotire 45 yoars from today (the frst $50,000 wis get paid 45 years trom now), if your discount rafe is 9%, compounded annually, and you plan to live for 15 years aftor retiring (so that you will receive a total of 16 payments including the first coe), what is the value todsy of Sccial Secunty's promise? The valuo today of Social Securitys pecenise is ? (Round to the nearest cont.)