Brief Exercise G-12

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Kaehler Enterprises earns 9% on an investment that pays back $87,500 at the end of each of the next 10 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 9% rate of return? (Round answer to 2 decimal places, e.g. 25.25.)

Kaehler Enterprises invested

$