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Fraser Company will need a new warehouse in seven years. The warehouse will cost $350,000...

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Accounting

Fraser Company will need a new warehouse in seven years. The warehouse will cost $350,000 to build.

Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using tables.

Required:

What lump-sum amount should the company invest now to have the $350,000 available at the end of the seven-year period? Assume that the company can invest money at: (Round your final answer to the nearest whole dollar amount.)

1. Ten Percent

2.Seven Percent

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