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What is the value of the offers

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Reference no: EM132319143

Question

Mike Macaro is selling a piece of land. Two offers are on the table. Morton Company offered a $33,000 down payment and $34,300 a year for the next 4 years. Flynn Company offered $21,500 down and $39,700 a year for the next 4 years. Assume money can be invested at 9% compounded annually. (Use 3.2397 present value of $1)

What is the value of the offers? (Do not round intermediate calculations. Round your answers to the nearest cent.)

Reference no: EM132319143

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