Wally, president of Wally's Burgers, is considering franchising. He has a potential franchise agreement that would allow him to receive 14 end-of-year payments starting one year from now. The first two payments would be $25,000 and $24,000 in one and two years respectively, and then $19,000 per year after that for 12 years. If Wally requires a return of 8.9%, what is the present value of this stream of cash flows? What is the present value of this stream of cash flows? $ 137330.42 (Round to the nearest cent.)