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A machine is purchased by making payments of $20500 at the beginning of each of the next five years. The interest rate was 8%. The

A machine is purchased by making payments of $20500 at the beginning of each of the next five years. The interest rate was 8%. The future value of an ordinary annuity of 1 for five periods is 5.86660. The present value of an ordinary annuity of 1 for five periods is 3.99271. What was the cost of the machine? Click here to view factor tables $129887 $120265 $88399 $81852

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