For each of the following independent scenarios, use Table 1 to calculate the present value of the cash flow described. Round to the nearest dollar.

(1) $10,000 will be received four years from today. The rate is 10 percent.

(2) $10,000 will be received four years from today. The rate is 20 percent.

(3) $50,000 will be received 15 years from today. The rate is 12 percent.

(4) $50,000 will be received 15 years from today. The rate is 6 percent.

Table 8.1

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Cash Flows for Copy Machine Investment by Jackson's Quality Copies Today Year Timeline 0 1 Year 2 Year 3 Year Year Year Year 5 6 Purchase price $(50,000) Maintenance cost Labor savings $( 1,000) $( 1,000) 11,000 $( 1,000) 11,000 11,000 $(1,000) 11,000 $( 1,000) 11,000 $( 1,000) 11,000 $( 1,000) Salvage value Total cash in (out) $(50,000) $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 11,000 5,000 $ 15,000