9. 2.54 As shown in the table below, Charlotte’s mother and father have experienced decreasing revenues from their business, Thompson’s Print and Gift Shop, over the last 8 years due to the increased use of digital media and e-commerce purchases.

Determine the following for Charlotte’s parents at i = 8% per year using the method(s) identified in each part.

1. Equivalent annual revenues for each of the 8 years by factor and spreadsheet.

2. The equivalent current value (year 8) of the recorded revenues by factor and spreadsheet.

3. (Optional question) The current purchasing power of the 8 years of revenue if inflation has averaged 3% per year using the purchasing power reductions listed in Figure 1.3 by spreadsheet only.