$($Present$-$value comparison$)$You are offered $$$$120,000$ today or $$$$320,000$ in $15$ years. Assuming that you can earn $11$ percent on your$$ money, which should you$$ choose?

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Part $1$

If you are offered $$$$320,$ comma $000$ in $15$ years and you can earn $11$ percent on your$$ money, what is the present value of $$$$320,000?$

$($Round to the nearest$$ cent.$)$