Brief Excercise A-12

Kaehler Enterprises earns 8% on an investment that pays back $82,500 at the end of each of the next 5 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 Kaehler Enterprises invested to earn the 8% rate of return? (Round answer to 2 decimal places, e.g. 25.25.)

Kahelers Enterprise Invested $_____