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Question: brian inc estimates that it will need 275000 in 6...

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Brian Inc. estimates that it will need $275,000 in 6 years to expand its manufacturing facilities. A bank has agreed to pay Brian 5% interest compounded annually if the company deposits the entire amount now needed to accumulate $275,000 in 6 years.

Use the appropriate present or future value table:

FV of $1, PV of $1, FV of Annuity of $1 and PV of Annuity of $1

Required:

How much money does Brian need to deposit now? Be sure to use all digits shown on the table and round your answer to a whole dollar.
$

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