Considering purchasing a piece of equipment, from which a company are expecting to generate $175,957 of profit (after expenses for the equipment are considered) for each year for 9 years. Expect to make a 10% return on this asset. Meaning, company wants to use this percentage as a the interest rate to measure your present value of the initial investment. How much do the company need to invest today, at the given return on asset for the number of years provided?

I am confused because, do we need to consider about monthly compound or not?

Please explain well with clear solution!