Fraser Company will need a new warehouse in eight years. The warehouse will cost $$490,000$ to build.

Click here to view Exhibit $12$B$-1$ and Exhibit $12$B$-2,$ to determine the appropriate discount factor$($s$)$ using tables.

Required:

What lump$-$sum amount should the company invest now to have the $$490,000$ available at the end of the eight$-$year period? Assume that the company can invest money at: $($Round your final answer to the nearest whole dollar amount.$)$

$\backslash$table$[[,$Present Value$],[1.$ Four percent,$],[2.$ Eight percent,$]]$