Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $15,500 not due for three years. The interest rate on the note is 5%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)

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