(Solved): As a result of a slowdown in operations, Tradewind Stores is offering employees who have been termi ...

As a result of a slowdown in operations, Tradewind Stores is offering employees who have been terminated a severance package of $\$100,000$ cash paid today; $\$100,000$ to be paid in one year; and an annuity of $\$37,000$ to be paid each year for 7 years. Required: 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.) Note: Use appropriate factor(s) from the tables provided. Round the final answer to nearest whole dollar.