Find the present value of an investment in equipment if it is expected to provide annual savings of $61,000 for 10 years and to have a resale value of $65,000 at the end of that period. Assume an interest rate of 12% and that savings are realized at year end. (Round factor values to 5 decimal places, e.g. 1.25125 and final answer to 0 decimal places, e.g. 458,581.) (Use the below tables.) 
PRESENT VALUE OF AN ORDINARY ANNUITY OF 1 (n) 9% Periods 8% 10% 11% 12% 15% .91743 1,75911 .90090 1.71252 1 .92593 .90909 89286 86957 1.78326 2 1.73554 1.69005 1.62571 2.28323 3 2.57710 2,53130 2,48685 2.44371 2.40183 3.23972 3.31213 3.16986 3.10245 3.03735 2,85498 4 3.35216 5 3.99271 3.88965 3.79079 3.69590 3.60478 4.62288 3.78448 6 4.48592 4.35526 4.23054 4.11141 5.20637 5.74664 5,03295 5.53482 4.16042 7 4.86842 4.71220 4.56376 4.96764 5.33493 5.14612 4.48732 6.24689 5.99525 5.75902 5.53705 5.32825 4.77158 5.88923 6.71008 6.41766 6.14457 5.65022 5.01877 10 6.20652 11 7.13896 6.80519 6.49506 5.93770 5.23371 12 7.53608 7.16073 6.81369 6.49236 6.19437 5.42062 6.74987 13 7.90378 7.48690 7.10336 7.36669 6.42355 5.58315 8.24424 7.78615 6.98187 14 6.62817 5.72448 15 8.55948 8,06069 7.60608 7.19087 6.81086 5.84737 8.85137 8.31256 7.82371 7,37916 5.95424 16 6.97399 17 9.12164 8.54363 8.02155 7.54879 7.11963 6.04716 18 9.37189 8.75563 8.20141 7.70162 7.24967 6.12797 8,95012 7,36578 6.19823 9.60360 8.36492 7.83929 19 9,12855 20 9.81815 8.51356 7.96333 7.46944 6.25933 9.29224 8.07507 21 10.01680 8.64869 7.56200 6.31246 10.20074 8.17574 8.26643 22 9.44243 8.77154 7.64465 6.35866 7.71843 23 10.37106 9.58021 8.88322 6.39884 7.78432 24 10.52876 9.70661 8.98474 8.34814 6.43377 10.67478 9.82258 9.07704 8.42174 7.84314 6.46415 25 26 10.80998 9.92897 9.16095 8.48806 7.89566 6.49056 10.02658 7.94255 6.51353 27 10.93516 9.23722 8.54780 28 11.05108 10.11613 9.30657 8.60162 7,98442 6.53351 29 11.15841 10.19828 9.36961 8.65011 8.02181 6.55088 8,69379 8.05518 30 11.25778 10.27365 9.42691 6.56598 10.34280 8.08499 6.57911 31 11.34980 11.43500 11.51389 9.47901 8.73315 32 10.40624 9.52638 8.76860 8.11159 6.59053 33 10.46444 9.56943 8.80054 8.13535 6.60046 8.15656 11.58693 10.51784 9.60858 8.82932 6.60910 34 11.65457 35 10.56682 9.64416 8.85524 8.17550 6.61661 36 11.71719 10.61176 9.67651 8.87859 8.19241 6.62314 9.70592 6.62882 37 11.77518 10.65299 8.89963 8.20751 6.63375 38 11.82887 10.69082 9.73265 8.91859 8,22099 11.87858 10.72552 8.93567 8.23303 39 9.75697 6.63805 11.92461 10.75736 9.77905 8.95105 8.24378 6.64178 40
