Brief Exercise C-13 (Algo) Calculate the present value of an annuity (LOC-5) Monroe Corporation is considering the purchase of new equipment. The equipment will cost $37,000 today, However, due to its greater operating capocity, Monroe expects the new equipment to earn addivional revenues of $5,500 by the end of each year for the next 10 years. Required: 1.a. Assuming a discount rate of 6% compounded annually, calculate the present value of annuity. (FV of S1. PV ofS1, EVA ofS1, and Pva of 51 1-b. Should Monroe make the purchase? Complete this question by entering your answers in the tabs below. Assuming a discount rate of 6.0\% cornpounded annually, calculate the present value of annuty. (Use tables, Excel, or a fintancial calculator Round your answer to 2 decimal places.) 1-a. Assuming a discount rate of 6% compounded annually, calculate the present value of annuity. (FV of $1, PV of $1, FVA of $1, and PVA of \$1) 1-b. Should Monroe make the purchase? Complete this question by entering your answers in the tabs below. Should Monroe make the purchase