Problem $5-5$ Calculating Present Value $[$L$05-4]$

Brenda Young desires to have $$18,500$ eight years from now for her daughter's college fund If she will eam II percent $($compounded annually$)$ on her money, what amount should she deposit now? $($Exhibit $1-$A$.$ Exhibit$1\mathrm{.}8.$ Exhibit$1-$C$,$ Exh bit.D$)$

Note: Use appropriate factor$($s$)$ from the tables provided. Round time value factor to $3$ decimal places and final answer to nearest whole number.

Amount to be deposited