Emerson developed a new style of camping trailer. He is considering a licensing agreement with Easy-Tow, who will manufacture the new trailer. They are proposing to pay him 542,000 now, and $14,000 at the beginning of each of the eight years of the licensing agreement, starting in two years. If interest is 6.5% compounded quarterly, what is the agreement worth today? The agreement is worth $ today (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)