Ronen Consulting has just realized an accounting error that has resulted in an unfunded liability of $395,000 due in 27 years. In other words, they will need $395,000 in 27 years. Toni Flanders, the company's CEO, is scrambling to discount the liability to the present to assist in vaulting the firm's stock. If the appropriate discount rate is 6 percent, what is the present value of the liability?