Global Stores is downsizing and must let some employees go. Employees volunteering to leave are being offered a severance package of $118,000 cash, another $129,000 to be paid in one year, and an annuity of $27,500 to be paid each year for six years with the first payment coming at the end of this year. (FV of $1, PV of $1, FVA of $1, and PVA of $1)

Note: Use appropriate factor(s) from the tables provided.

What is the present value of the total severance package, assuming an annual interest rate of 5 percent?

Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar.

Global Stores is downsizing and must let some employees go. Employees volunteering to leave are being offered a severance package of $118,000 cash, another $129,000 to be paid in one year, and an annuity of $27,500 to be paid each year for six years with the first payment coming at the end of this year. (FV of \$1, PV of \$1. FVA of \$1, and PVA of \$1) Note: Use appropriate factor(s) from the tables provided. What is the present value of the total severance package, assuming an annual interest rate of 5 percent? Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar