The president of GE Healthcare is considering an external perpetual contract offer that will significantly improve the energy efficiency of their imaging systems. The payment schedule has two large payments in the first years with continuing payments thereafter. The proposed schedule is $200,000 now, $300,000 four years from now, $50,000 every 5 years, and an annual amount of $8000 beginning 15 years from now. Determine the present worth of all payments (capitalized cost) at 6% per year.