please write out the entire number for the answers. do not abbreviate or shorten them.

(Present value of a complex stream) Don Draper has signed a contract that will pay him $70,000 at the beginning of each year for the next 7 years, plus an additional $130,000 at the end of year 7. If 12 percent is the appropriate discount rate, what is the present value of this contract? The present value of the contract is $ (Round to the nearest cent.)