Pharma Manufacturing is considering a medical process that is expected to reduce its annual operating costs by $70,000.00. What is the maximum amount of money that should be invested for the process to be economically feasible if interest is 7.16% compounded quarterly?

The maximum amount of money that should be invested for the process to be economically feasible is $__ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Please answer with steps involved for calculation

Pharma Manufacturing is considering a medical process that is expected to reduce its annual operating costs by $70,000.00. What is the maximum amount of money that should be invested for the process to be economically feasible if interest is 7.16% compounded quarterly? The maximum amount of money that should be invested for the process to be economically feasible is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)