At the end of 2025 , Concord Company is conducting an impairment test and needs to develop a fair value estimate for machinery used in its manufacturing operations. Given the nature of Concord's production process, the equipment is for special use. (No secondhand market values are available.) The equipment will be obsolete in 2 years, and Concord's accountants have developed the following cash flow information for the equipment. Click here to view factor tables. Using expected cash flow and present value techniques, determine the fair value of the machinery at the end of 2025 . Use a 5% discount rate. Assume all cash flows occur at the end of the year. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Fair value of the machinery at the end of 2025 $ 
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