You have been offered a job with an unusual bonus structure. As long as you stay with the firm, you will get an extra $73,000 every 7 years, starting 7 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 4% (EAR)?

(Note:

Be careful not to round any intermediate steps less than six decimal places.)