Paramount Company Is Considering Purchasing New Equipment Costing $708,000 Present Value of $1

Paramount Company is considering purchasing new equipment costing $708,000.The management has estimated that the equipment will generate cash flows as follows:
$$\begin{array} { | r|r | } \hline \text { Year }1 & \$ 220,000 \\\hline 2&220,000 \\\hline 3&256,000 \\\hline 4&256,000 \\\hline 5&164,000 \\\hline\end{array}$$
Present value of $1:
$$\begin{array} { | l | r | r | r | r | r | } \hline &{ 6 \% } & { 7 \% } &{ 8 \% } & { 9 \% } & 10 \% \\\hline 1 & 0.943 & 0.935 & 0.926 & 0.917 & 0.909 \\\hline 2 & 0.89 & 0.873 & 0.857 & 0.842 & 0.826 \\\hline 3 & 0.84 & 0.816 & 0.794 & 0.772 & 0.751 \\\hline 4 & 0.792 & 0.763 & 0.735 & 0.708 & 0.683 \\\hline 5 & 0.747 & 0.713 & 0.681 & 0.65 & 0.621 \\\hline\end{array}$$
The company's required rate of return is 8%.Using the factors in the table,calculate the present value of the cash inflows.(Round all calculations to the nearest whole dollar.)

A) $895,368
B) $39,160
C) $896,000
D) $768,000