Blossom Company earns 12% on an investment that pays back $96,000 at the end of each of the next 7 years. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount Blossom Company invested to earn the 12% rate of return? (Round answer to 2 decimal places, e.g. 5,275.25.)

Blossom Company invested

$enter an amount invested in dollars rounded to 2 decimal places