On July 20, 2021 Land Broker Associates signed a sales agreement on a long-term contract. Land Broker Associates will receive a total of $1,900,000 -- scheduled over 4 annual payments of $475,000 each. The first payment starts on July 20, 2024, with the remaining 3 payments following on July 20, 2025, July 20, 2026, and July 20, 2027. Land Broker Associates wants to know the present value of the agreement as of July 20, 2021, at a 6% interest rate. Show all calculations.