You believe you have a great idea for a new product. You anticipate it will take additional time to get the product fully developed and sell to a buyer for $\backslash (\backslash$$ $550,000\backslash ).$ Assume a discount rate of $\backslash (7\backslash \%\backslash )$ compounded annually. What is the value to you today of the product, assuming you sell it for $\backslash (\backslash$$ $550,000\backslash )$ in $($a$)$ two years, $($b$)$ three years, or $($c$)$ four years?

Note: Use tables, Excel, or a financial calculator. Round your answers to $2$ decimal places. $($ FV of $\backslash (\backslash$$ $1,\backslash$mathrm$\{$PV$\}\backslash )$ of $\backslash (\backslash$$ $1\backslash ),$ FVA of $\backslash (\backslash$$ $1\backslash ),$ and PVA of $\backslash$$$1)$