Question: Exercise 12A-4 (Algo) Basic Present Value Concepts [LO12-7] Fraser Company will need a new warehouse in six years. The warehouse will cost $370,000 to build,

Exercise 12A-4 (Algo) Basic Present Value Concepts [LO12-7] Fraser Company will need a new warehouse in six years. The warehouse will cost $370,000 to build, Click here to view and Exhibit 128-2, to determine the appropriate discount factor(s) using tables. Required: What lump-sum amount should the company invest now to have the $370,000 available at the end of the six-year period? Assume that the company can invest money at: (Round your final answer to the nearest whole dollar amount.)

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