Saul Cervantes has just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of the next five years: $17,920, $8,350, $9,575, $12,710, and $11,540. If the appropriate discount rate is 9.950 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.)Present value
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