You want to create a college fund for a child who is now $1$ year old. The fund should grow to $$62,000$ in $17$ years. If an investment available to you will yield $10$ percent per year, how much must you invest in a lump sum now to realize the $$62,000$ when needed? Round your answer to nearest dollar. $($Hint: Use Appendix A$-2$ or visit the Garman$/$Forgue companion website.$)$ Round Present Value of a Single Amount in intermediate calculations to four decimal places.