Question: Global Stores is downsizing and must let some employees go. Employees volunteering to leave are being offered a severance package of $123,500 cash, another $134,500

Global Stores is downsizing and must let some employees go. Employees volunteering to leave are being offered a severance package of $123,500 cash, another $134,500 to be paid in one year, and an annuity of $33,000 to be paid each year for eight years with the first payment coming at the end of this year. (FV of $1, PV of $1, EVA of $1, and PVA of \$1) Note: Use appropriate factor(s) from the tables provided. What is the present value of the total severance package, assuming an annual interest rate of 5 percent? Note: Do not round intermediate calculatia-.. Round your answer to the nearest whole dollar

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