John Wiggins is considering the purchase of a small restaurant. The purchase price listed by the seller is $810,000. John has used past financial information to estimate that the net cash flows (cash inflows less cash outflows) generated by the restaurant would be as follows: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Years Amount 1-6 $ 81,000 7 71,000 8 61,000 9 51,000 10 41,000 If purchased, the restaurant would be held for 10 years and then sold for an estimated $710,000. Required: Determine the present value, assuming that John desires a 12% rate of return on this investment.