M9-11 Computing the Present Value of a Complex Contract L09-7 Global Stores is downsizing and must let some employees go. Employees volunteering to leave are being offered a severance package of $121,500 cash, another $132,500 to be paid in one year, and an annuity of $31,000 to be paid each year for five years with the first payment coming at the end of this year. (FV of $1. PV of $1. FVA of $1, and PVA of $1 (Use the appropriate factor(s) from the tables provided. Round your answer to nearest whole dollar.) What is the present value of the total severance package, assuming an annual interest rate of 6%? Present value