Paramount Company is considering purchasing new equipment costing$700,000. The management has estimated that the equipment will generate cash flows asfollows:

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

Thecompany's required rate of return is8%. Using the factors in thetable, calculate the present value of the cash inflows.(Round all calculations to the nearest wholedollar)