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Ivanhoe Enterprises earns 8% on an investment that pays back $81,500 at the end of each of the next 7 years. Click here to view

Ivanhoe Enterprises earns 8% on an investment that pays back $81,500 at the end of each of the next 7 years. Click here to view the factor table. (For calculation purposes, use 5 decimal ploces as displayed in the factor table provided.) What is the amount Ivanhoe Enterprises invested to earn the 8% rate of return? (Round answer to 2 decimal places, eg. 25.25.) Ivanhoe Enterprises invested

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