What is the cost in todays dollars of the equipment

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Reference no: EM13296374

Saul Cervantes 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: $13,348, $13,500, $12,329, $11,136, and $14,300. If the appropriate discount rate is 12.362 percent, what is the cost in today's dollars of the equipment Saul purchased today? (Round answer to 2 decimal places, e.g. 15.25.)

Reference no: EM13296374

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