Ivanhoe Company is considering an investment that will return a lump sum of $840,000 8 years from now. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Ivanhoe Company pay for this investment to earn an 10% return? (Round answer to 2 decimal places, e.g. 25.25.)

Ivanhoe Company should pay