Imprudential Inc. has an unfunded pension liability of $750 million that must be paid in 20 years. To assess the value of the firms stock, financial analysts want to discount this liability back to the present.

If the relevant discount rate is 8.2 percent, what is the PV of this liability? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)

Present value