Problem $01\mathrm{.}031-$ Economic equivalence

During a recession, the price of goods and services goes down because of low demand. A company that makes Ethernet adapters is planning to expand its production facility at a cost of $$1,300,0001$ year from now. However, a contractor who needs work has offered to do the job for $$800,000$ provided the company will do the expansion now instead of $1$ year from now. If the interest rate is $11\mathrm{.}00\%$ per year, how much of a discount is the company receiving? $($Round the final answer to three decimal places.$)$

The discount that the company is receiving is $