A company purchased a new piece of equipment on May $1,2020$ that will not need to be paid off for two years. When the total payment is due on May $1,2022,$ it will include interest and principal. If the interest rate is set at $10\%,$ then the cost of the machine would be the total payment multiplied by a factor for the

future value of annuity of $1.$

present value of annuity of $1.$

future value of $1.$

present value of $1.$