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1.Sheridan Company is considering an investment that will return a lump sum of $929,700, 6 years from now. (For calculation purposes, use 5 decimal places

1.Sheridan Company is considering an investment that will return a lump sum of $929,700, 6 years from now. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Sheridan Company pay for this investment to earn an 8% return? (Round answer to 2 decimal places, e.g. 25.25.)

Sheridan Company should pay_____

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