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Imprudential, Inc., has an unfunded pension liability of $750 million that must be paid in 25 years. To assess the value of the firms stock,

Imprudential, Inc., has an unfunded pension liability of $750 million that must be paid in 25 years. To assess the value of the firms stock, financial analysts want to discount this liability back to the present. Required: If the relevant discount rate is 8 percent, what is the present value of this liability? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Round your answer to 2 decimal places (e.g., 32.16).)

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