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Mike Derr Company expects to earn 12% per year on an investment that will pay $616,000 seven years from now. (PV of $1, FV of

Mike Derr Company expects to earn 12% per year on an investment that will pay $616,000 seven years from now. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round PV factor to 4 decimal places.)

Compute the present value of this investment.

Future Value x p(PV of a Single Amount) = Present Value

x =

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