A company anticipates its labor costs rising by 6% per year. Currently, its annual labor costs are $350,000. If the company invests its money into an account that earns 5% annual interest, how much would it need to set aside to cover its labor costs for the next 4 years? Click here to access the TVM Factor Table calculator. $ 1352502.17 million Carry all interim calculations to 5 decimal places and then round your final answer to 3 decimal places. Please enter your answer in millions of dollars. The tolerance is 0.010 million.