One is expecting to attract the project manager with the incentive pay if the continuous improvements can be taken place in the facility. The base annual salary is $100000 in the first year, with the 11.5% increasing rate annually starting from the second year and up to the fifth year. Assume that the salary is paid at the end of each year. What is the value of five years' salary that the project manager earns if evaluated it at time now (year zero) by using the discount rate of 7.0%? Five years' salary that the project manager earns = (Please keep two decimal places)