Brief Exercise G-13

Sunland Company earns 9% on an investment that pays back $80,300 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 Sunland Company invested to earn the 9% rate of return? (Round answer to 2 decimal places, e.g. 25.25.)

Sunland Company invested $