signment

Question $13,$ P$5-19($similar to$)$

HW Score: $67\mathrm{.}5\%,13\mathrm{.}5$ of $20$ points

Points: $0$ of $1$

$($Related to Checkpoint $5\mathrm{.}4)($Present value$)$ Ronen Consulting has just realized an accounting error that has resulted in an unfunded liability of $$370,000$ due in $25$ years. In other words, they will need $$370,000$ in $25$ years. Toni Flanders, the company's CEO, is scrambling to discount the liability to the present to assist in valuing the firm's stock. If the appropriate discount rate is $7$ percent, what is the present value of the liability?

If the appropriate discount rate is $7$ percent, the present value of the $$370,000$ liability due in $25$ years is $

$($Round to the nearest cent.$)$