What is the cost in today dollars of the equipment daniel

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Problem 1: Daniel Jackson has just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of each of the next five years: $10,520, $7,570, $9,370, $12,560, and $11,660. If the appropriate discount rate is 7.910 percent, what is the cost in today's dollars of the equipment Daniel purchased today? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values.)

Reference no: EM132803434

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