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Required information Skip to question [ The following information applies to the questions displayed below. ] On January 1 , Boston Company completed the following

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[The following information applies to the questions displayed below.]
On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for all transactions): (FV of $1, PV of $1, FVA of $1, and PVA of $1)
Note: Use appropriate factor(s) from the tables provided.
Promised to pay a fixed amount of $7,900 at the end of each year for nine years and a one-time payment of $118,800 at the end of the 9th year.
Established a plant remodeling fund of $492,850 to be available at the end of Year 10. A single sum that will grow to $492,850 will be deposited on January 1 of this year.
Agreed to pay a severance package to a discharged employee. The company will pay $76,900 at the end of the first year, $114,400 at the end of the second year, and $151,900 at the end of the third year.
Purchased a $179,500 machine on January 1 of this year for $35,900 cash. A five-year note is signed for the balance. The note will be paid in five equal year-end payments starting on December 31 of this year.
Required:
1. In transaction (a), determine the present value of the debt.
Note: Round your intermediate calculations and final answer to nearest whole dollar.

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