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Sheridan Enterprises earns 7% on an investment that pays back $88,500 at the end of each of the next 7 years. Click here to view

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Sheridan Enterprises earns 7% on an investment that pays back $88,500 at the end of each of the next 7 years. Click here to view the factor table: (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount Sheridan Enterprises invested to earn the 7% rate of return? (Round answer to 2 decimal places, e.g. 25.25.) Sheridan Enterprises invested

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