A Company borrowed money from a local bank. The note the company signed requires five annual installment

payments of $$11,500$ beginning immediately. The interest rate on the note is $7\%.$

What amount did the company borrow?

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of

$$1)$