Close Date: Thu, Jun 18, 2020 12:30 PM 15:16 Question 7 of 12 A manufacturing firm purchased a heavy duty drilling machine. They were given two payment options: Option 1: Make a payment of $31,000 immediately to settle the invoice for the machine. Option 2: Make a payment of $22,500 immediately and the balance of $23,550 in 3 months to settle the invoice. Activate Windows SAVE PROGRESS SUBMIT ASSIC BC o acer Question 7 of 12 months to settle the invoice. If money is worth 4.12% compounded quarterly, answer the following: a. What is the total present value of Option 2? Round to the nearest cent SAVE PROGRESS RI