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As a result of a slowdown in operations, Tradewind Stores is offering employees who have...

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Accounting

As a result of a slowdown in operations, Tradewind Stores is offering employees who have been terminated a severance package of $101,000 cash paid today; $101,000 to be paid in one year; and an annuity of $36,000 to be paid each year for 8 years. What is the present value of the package assuming an interest rate of 10 percent? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round the final answer to nearest whole dollar.)

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