Exercise B$-1($Algo$)$ Present value of an amount LO P$1$

Mike Derr Company expects to earn $10\%$ per year on an investment that will pay

$$606,000$ seven years from now. $($PV of $$1,$ FV of $$1,$ PVA of $$1,$ and FVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided. Round "Table Factor" to $4$

decimal places.

Compute the present value of this investment.