Fraser Company will need a new warehouse in six years. The warehouse will cost $370,000 to build.

Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables.

Required:

What lump-sum amount should the company invest now to have the $370,000 available at the end of the six-year period? Assume that the company can invest money at: (Round your final answer to the nearest whole dollar amount.)

Fraser Company will need a new warehouse in six years. The warehouse will cost $370,000 to build. Click here to view Exhibit 138-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables. Required: What lump-sum amount should the company invest now to have the $370,000 available at the end of the six-year period? Assume that the company can invest money at: (Round your final answer to the nearest whole dollar amount.) Present Value 1. Four percent 2. Nine percent