A small business has determined that the machinery they currently use will wear out in 18 years. To replace the new machine when it wears out, the company wants to establish a savings account today. If the interest rate on the account is 1.7 percent compounded quarterly and the cost of the machinery will be $290,000, how much will the company have to deposit today? Multiple Choice $87,305.52 $88,739.19 $88,071.36 $86,156.77 $214,102.06