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What lump sum amount should the company invest now

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Reference no: EM13962151

Largo Freightlines plans to build a new garage in three years to have more space for repairing its trucks. The garage will cost $400,000. 

Required: 

What lump-sum amount should the company invest now to have the $400,000 available at the end of the three-year period?

Assume that the company can invest money at:

a. Eight percent. 
b. Twelve percent.  

Reference no: EM13962151

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