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Vaughn Corporation wants to withdraw $122,920 (including principal) from an investment fund at the end...

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Accounting

Vaughn Corporation wants to withdraw $122,920 (including principal) from an investment fund at the end of each year for 9 years. What should be the required initial investment at the beginning of the first year if the fund earns 11%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

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