Question: Chapter 12 Question 7: Fraser Company will need a new warehouse in five years. The warehouse will cost $500,000 to build. Required: What lump-sum amount

Chapter 12 Question 7:

Fraser Company will need a new warehouse in five years. The warehouse will cost $500,000 to build.

Required:

What lump-sum amount should the company invest now to have the $500,000 available at the end of the five-year period? Assume that the company can invest money at: (Round your final answers to the nearest whole dollar amount.)

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