You have been offered a job with an unusual bonus structure. As long as you stay with the firm, you will get an extra $70,000 every seven years, starting seven years from now. What is the present value of this incentive if you plan to work for the company for 42 years and the interest rate is 5.9% (EAR)? (Note: Be careful not to round any intermediate steps less than six decimal places.) The present value of this incentive is $ (Round to the nearest dollar.)