Exercise $12$A$-4($Algo$)$ Basic Present Value Concepts $[$LO$12-7]$

Fraser Company will need a new $$350,000$ warehouse in three years.

Click here to view Exhibit $12$B$-1$ and Exhibit $12$B$-2,$ to determine the appropriate discount factor$($s$)$ using tables.

Required:

What lump$-$sum amount should the company invest now to have $$350,000$ available at the end of three$-$years? Assume the company can invest money at:

Note: Round your final answer to the nearest whole dollar amount.

$\backslash$table$[[,$Present Value$],[1.$ Ten percent,$],[2.$ Six percent,$]]$