$($Present value of a complex stream$)$ Don Draper has signed a contract that will pay him $$70,000$ at the end of each year for the next $5$ years, plus an additional $$110,000$ at the end of year $5.$ If $9$ percent is the appropriate discount rate, what is the present value of this contract?

a$.$ What is the present value of $$70,000$ at the end of each year for the next $5$ years if the discount rate is $9$ percent?

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