3. Calculate PV of single cash flows, Arithmetic/Geometric Gradients, and Annuities. (25pts) The California Department of Transportation has put together a table estimating their equipment and maintenance cost for the next year. To determine their future Value, they have used excel. Their table and final values are shown below. Review the table and solution and manually determine if the calculations are correct or incorrect. Interest Rate 4% EOY 000 WNO One-Time Payments Annual Revenue Repair Cost Maintenance Cost ($1,000) $1,000 $1,100.0 ($2,000) $1,210.0 $1,331.0 $500 $1,464.1 $500 ($800) $1,610.5 $500 ($900) ($3,000) $500 ($1,000) $500 ($1,100) $500 9 10 Calculated FV: $1,656.24