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Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $11,500 beginning one year from

Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $11,500 beginning one year from today. The interest rate on the note is 7%.(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? (Round your final answers to nearest whole dollar amount.)

Table or calculator function:

Payment :

n =

i =

present value:

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