Question 16 (1 point) Lee Construction, LLC is planning to open a new office in tri-cities region. It plans to purchase a new office building in Bristol 7 years from now for $450000. At the time of purchase, it will borrow $120000 from the First National Bank and use its own cash reserve for the rest. The interest rate is 6% per year. How much money the company will need to save every year in the bank starting the end of this year, so that, at the time of purchase, the company will have enough cash reserve to purchase the office building (i.e. the cash reserve should cover the amount that is not covered by the loan)? Round your answer to the nearest dollar value. Your