1. You have been offered an investment that promises to pay out $20,000 at the end of the year, followed by payments of $30,000, $40,000, and $50,000 at the end of the subsequent years. Yields in the market are expected to steadily increase over the next year so that the appropriate discount rate is 6% for the first year, 7% for the second year, 8% for the third year, and $9% for the fourth year. How much would you be willing to pay for this investment stream?