Flounder's Lawn Service needs to purchase a new lawnmower costing $8,416to replace an old lawnmower that cannot be repaired. The new lawnmower is expected to have a useful life of6years, with no salvage value at the end of that period.

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(a)IfFlounder's required rate of return is11%, what level of annual cash savings must the lawnmower generate to be considered an acceptable investment under the net present value method?(For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g. 58,971.)Annual cash savings should be$

enter the annual cash savings in dollars

(b)IfFlounder's required rate of return is18%, what level of annual cash savings must the lawnmower generate to be considered an acceptable investment under the net present value method?(For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g. 58,971.)Annual cash savings should be$

enter the annual cash savings in dollars

\fLU DIV RS Present value of an annuity of $1 per period. 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 16% 18% 20% 0.9615 1.8861 2.7751 3.6299 4.4518 5.2421 6.0021 6.7327 7.4353 8.1109 8.7605 9.3851 9.9856 10.5631 11.1184 11.6523 12.1657 12.6593 13.1339 13.5903 1 0.9524 1.8594 2.7232 3.5460 4.3295 5.0757 5.7864 6.4632 7.1078 7.7217 8.3064 8.8633 9.3936 9.8986 10.3797 10.8378 11.2741 11.6896 12.0853 12.4622 1_(1+i}" 0.9434 1.8334 2.6730 34651 42124 49173 5.5824 6.2098 6.8017 7.3601 7.8869 8.3838 8.8527 9.2950 9.7122 10.1059 10.4773 10.8276 11.1581 11.4699 0.9346 1.8080 2.6243 3.3872 4.1002 4.7665 5.3893 5.9713 6.5152 7.0236 7.4987 7.9427 8.3577 8.7455 9.1079 9.4466 9.7632 10.0591 10.3356 10.5940 0.9174 1.7591 2.5313 3.2397 3.8897 4.4859 5.0330 5.5348 5.9952 6.4177 6.8052 7.1607 7.4869 7.7862 8.0607 8.3126 8.5436 8.7556 8.9501 9.1285 0.9091 1.7355 2.4868 3.1698 3.7907 4.3553 4.8684 5.3349 5.7590 6.1446 6.4951 6.8137 7.1034 7.3667 7.6061 7.8237 8.0216 8.2014 8.3649 8.5136 0.9009 1.7125 2.4437 3.1024 3.6959 4.2305 4.7122 5.1461 5.5370 5.8892 6.2065 6.4924 6.7499 6.9819 7.1909 7.3792 7.5488 7.7016 7.8393 7.9633 0.8929 1.6901 24018 3.0373 3.6048 4.1114 4.5638 4.9676 5.3282 5.6502 5.9377 6.1944 6.4235 6.6282 6.8109 6.9740 7.1196 7.2497 7.3658 7.4694 0.8850 1.6681 23612 29745 3.5172 3.9975 4.4226 4.7988 51317 54262 5.6869 59176 6.1218 6.3025 6.4624 6.6039 6.7291 6.8399 6.9380 7.0248 0.8772 1.6467 2.3216 2.9137 3.4331 3.8887 4.2883 4.6389 4.9464 5.2161 5.4527 5.6603 5.8424 6.0021 6.1422 6.2651 6.3729 6.4674 6.5504 6.6231 0.8621 1.6052 2.2459 2.7982 3.2743 3.6847 4.0386 4.3436 4.6065 4.8332 5.0286 5.1971 5.3423 5.4675 5.5755 5.6685 5.7487 5.8178 5.8775 5.9288 0.8475 1.5656 2.1743 2.6901 3.1272 34976 3.8115 4.0776 4.3030 4.4941 4.6560 4.7932 4.9095 5.0081 5.0916 5.1624 5.2223 52732 5.3162 5.3527 0.8333 1.5278 2.1065 2.5887 2.9906 3.3255 3.6046 3.8372 4.0310 4.1925 4.3271 4.4392 4.5327 4.6106 4.6755 4.7296 4.7746 4.8122 4.8435 4.8696