Exercise 10-4A (Algo) Determining the present value of an annulty LO 10-1 The dean of the School of Fine Arts is tying to decide whether to purchase a copy machine to place in the lobby of the bulding. The machine would add to student convenience, but the dean feels compelled to earn an 12 percent return on the livestment of funds. Estimates of cash inflows from copy machines that have been placed in other university bulldings indicate that the copy machine would probably produce incremental cash inflows of approximately $16,500 per yeac. The machine is expected to have a three-yeor useful life with a zero salvage value. Note: Use approprlate factor(s) from the tables provided. Required a. Use Present Value Appendix PV of \$1, to determine the maximum amount of cash the dean should be wiling to pay for a copy machine. Note: Round your Intermediate calculations and final answer to 2 declmal places. b. Use Present Value Appendix PVA of \$1, to determine the maximum amount of cash the dean should be wiling to pay for a copy machine. Note: Round your final answer to 2 decimal places