On December $31,$ year $0,$ ABC purchased a machine in exchange for an interest$-$bearing note requiring $11$ payments of $$117813$ at the end of each year. The first payment was made on December $31,$ year $1.$ At the date of the transaction, the prevailing rate of interest for this type of note was $4\mathrm{.}4\%.$ The initial value of the machine is: