Incognito Company is contemplating the purchase of a machine that provides it with cash savings of $96,000 per year for five years. Interest is 9%. Assume the cash savings occur at the end of each year. (FV of $1,PV of $1,FVA of $1,PVA of $1,FVAD of $1andPVAD of $1)(Use appropriate factor(s) from the tables provided.)

Required:

Calculate the present value of the cash savings.(Round your final answer to the nearest whole dollar.)