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You have successfully started and operated a company for the past 10 years. You have...

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You have successfully started and operated a company for the past 10 years. You have decided that it is time to sell your company and spend time on the beaches of Hawail. A potential buyer is interested in your company, but he does not have the necessary capital to pay you a lump sum. Instead, he has offered \\( \\$ 700,000 \\) today and annuity payments for the balance. The first payment will be for \\( \\$ 290,000 \\) in three months. The payments will increase at \1.2 per quarter and a total of 25 quarterly payments will be made. If you require an EAR of 9\\%, how much are you being offered for your company? (Do not round intermediate colculations. Round your answer to 2 decimal ploces, e.g., 32.16.)

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