Clayton is a four year old boy (i.e., age 4) and he will go to college at age 18 (i.e., at time=14). Annual tuition at his dream college will be $50,000. Assume that Clayton will spend 4 years in college and that the interest rate will remain at 7% in the future. You will pay the tuition at the beginning of each college year (i.e., first tuition is due in 14 years at time=14, and so on). What is the present value of four years of college tuitions, evaluated today (i.e., at time=0)?