Koppernaes Corporation Earns 12% on an Investment That Will Return

Multiple Choice

Koppernaes Corporation earns 12% on an investment that will return $1,350,000, 7 years from now. Below is some of the time value of money information that Koppernaes has compiled that might help in planning compounded interest decisions. $\begin{array}{lr}\text { Present value of } 1 \text { for } 7 \text { periods at } 12 \% & 0.45235 \\\text { Future value of } 1 \text { for } 7 \text { periods at } 12 \% & 2.21068 \\\text { Present value of an annuity of } 1 \text { for } 7 \text { periods at } 12 \% & 4.56376 \\\text { Future value of an annuity of } 1 \text { for } 7 \text { periods at } 12 \% & 10.08901\end{array}$ To the closest dollar, what is the amount Koppernaes should invest now to earn this rate of return?

A) $298,442
B) $610,673
C) $1,134,,000
D) $616,107