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When Pacific Inc. bld for a project with the government, the company was offered the following two payment options: Option ( A ) : A

When Pacific Inc. bld for a project with the government, the company was offered the following two payment options:
Option (A): A payment of $592,500 at the end of 5 years, which is the scheduled completion time for the project.
Option (B): $210,000 paid upfront at the beginning of the project and the balance payment in 5 years.
If the two payments are financially equivalent and the interest rate is 4.14% compounded semi-annually, calculate the balance payment offered in Option(B).
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