Karl Yates needs ​$7000 to pay for the remodeling work on his house. A contractor agrees to do the work in 2 months. What is the present value of ​$7,000 at 5.9% simple interest in order to accumulate the ​$7,000 in 2 ​months?   The present value is   ​(Round to the nearest cent as​ needed.

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