A local county health department needs to expand. A local landowner offers them a piece of land for $500,000, with ownership transfer and payment not due for 5 years to match the projected date of the expansion. Using the present value of a single sum formula of p = fx p(i, n) and the following table, what amount would need to be invested today at the annual interest rate of 2% to have $500,000 available in 5 years for the land purchase?