Find the lump sum deposited today that will yield the same total amount as payments of $$8,000$ at the end of each year for $11$ years, at an interest rate of $8\%$ compoundedUse the amortization table to determine how much interest is paid in the first $4$ months of the loan.

Click the icon to view the amortization table.

$ $($Type an integer or a decimal.$)$

annually.

The lump sum is $

$($Round to the nearest cent.$)$