Fraser Company will need a new warehouse in seven years. The warehouse will cost $350,000 to build. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s)...

Fraser Company will need a new warehouse in seven years. The warehouse will cost $350,000 to build.

Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables.

Required:

What lump-sum amount should the company invest now to have the $350,000 available at the end of the seven-year period? Assume that the company can invest money at:(Round your final answer to the nearest whole dollar amount.)