A hospital CFO is gathering information to forecast the investment needs of the organization. He has to have adequate funding available to replace worn out patient care equipment over the next several years. The current forecast suggests that the hospital has to pay out $750,000 annually for the next six years from the investment portfolio to meet the expected capital budgets. If the CFO estimates that he can receive an annual yield of 9% on his portfolio, what lump sum amount must he invest today to create the six year payout? (Please show all calculations)