(Present-value comparison)You are offered

$120 comma 000

today or

$320 comma 000

in

15

years. Assuming that you can earn

16

percent on your money, which should you choose?

Question content area bottom

Part 1

If you are offered

$320 comma 000

in

15

years and you can earn

16

percent on your money, what is the present value of

$320 comma 000

?

$

(Round to the nearest cent.)