Question: A farmer owns a property that contains 9 fields and some forest. Each year he plants a crop at the start of the year and harvests it at the end of the year. Each field gives a profit of $12,600 per year. Between planting and harvesting his crop he clears some of the forest to create 1 new field of the same size as the others, which he can then use for crops in subsequent years. He uses a discount rate of 11% per year. What is the present value of all the profits he makes in the first 10 years? (Answer to the nearest dollar)

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