Problem $5-17$ Calculating Present Values $[$LO$2]$

Suppose you are committed to owning a $$201,000$ Ferrari. If you believe your mutual fund can achieve an annual rate of return of $13$ percent and you want to buy the car in $10$ years $($on the day you turn $30),$ how much must you invest today? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Investment