Davis plans to save money to take a two-week cruise on December 31, 2028. On January 1, 2025, Davis plans to invest money in an investment fund paying 10% interest to accumulate $16,000. How much should Davis deposit today to achieve the desired $16,000? (For calculation purposes, use five decimal places as displayed in the factor table provided. Round your answer to two decimal places (e.g., 52.75).) Table 3: Present Value of 1 (n) Periods 6% 7% 8% 9% 10% 11% 1 .94340 .93458 .92593 .91743 .90909 .90090 2345 .89000 .87344 .85734 .84168 .82645 .81162 .83962 .81630 .79383 .77218 .75132 .73119 .79209 .76290 .73503 .70843 .68301 .65873 .74726 .71299 .68058 .64993 .62092 .59345 Amount to deposit $