6 Appendix A part2 CC. 6of6

Appendix A part 2 View Policies Current Attempt in Progress Cullumber Company is considering purchasing equipment. The equipment will produce the following cash inflows: Year 1, $26,000; Year 2, $31,500; and Year 3, $42,000. Cullumber requires a minimum rate of return of 10%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the maximum price Cullumber should pay for this equipment? (Round answer to 2 decimal places, e.g. 25.25.) Maximum price 81