Paramount Company is considering purchasing new equipment costing $700,000. Company's management has estimated that the equipment will generate cash flows as follows:

Year 1	$200,000
2	200,000
3	250,000
4	250,000
5	150,000

Present value of $1:

	6%	7%	8%	9%	10%
1	0.943	0.935	0.926	0.917	0.909
2	0.89	0.873	0.857	0.842	0.826
3	0.84	0.816	0.794	0.772	0.751
4	0.792	0.763	0.735	0.708	0.683
5	0.747	0.713	0.681	0.65	0.621

The company's required rate of return is 9%. Using the factors in the table, calculate the present value of the cash flows.

Group of answer choices

$850,000

$819,300

$820,500

$852,000