Exercise B-9 Present value of an annuity LO P3 points Dave Krug finances a new automobile by paying $7100 cash and agreeing to make 20 monthly payments of $580 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1. EV of $1. PVA of S1, and EVA of $1 (Use appropriate foctor(s) from the tables provided. Round PVA factor to 4 decimal places.) Door Present Value of Loan Table Factor Monthly Payment Table Values are based on O the Procent Value of Cash Down Payment