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Fraser Company will need a new warehouse in nine years. The warehouse will cost $ 4 0 0 , 0 0 0 to build. Required:

Fraser Company will need a new warehouse in nine years. The warehouse will cost $400,000 to build.
Required:
What lump-sum amount should the company invest now to have the $400,000 available at the end of the nine-year period? Assume that the company can invest money at:
13 percent:
8 percent:

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