You expect to receive a one$-$time payment of $$1,000$ in $7$ years. The annual interest rate is $6\%.$ What is the value of the cash flow in $1$ year?

a$.$

$$665\mathrm{.}06$

b$.$

$$704\mathrm{.}96$

c$.$

$$1,418\mathrm{.}52$

d$.$

$$1,503\mathrm{.}63$