14.- In four years, when he is discharged from the Air Force, Steve wants to buy an $24,000 power boat.

Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables.

Required:

What lump-sum amount must Steve invest now to have the $24,000 at the end of four years if he can invest money at: (Round discount factor to 3 decimal places.)

15.- Fraser Company will need a new warehouse in eight years. The warehouse will cost $370,000 to build.

Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables.

Required:
1.	What lump-sum amount should the company invest now to have the $370,000 available at the end of the eight-year period? Assume that the company can invest money at four percent. (Round discount factor to 3 decimal places.)