Hollywood Tabloid needs a new state-of-the-art camera to produce its monthly magazine. The company is locking at two cameras that are both capable of doing the job and has determinod the following: Camera 1 costs 55,200 . It should last for eight vears and have annuel molntenance costs of $240 per year. Aftef eight years, the mogarine can sell the camera for $380 Camern 2 costs $4700 it wit dso tast for eight years and have maintenance costs of $820 in year three, $900 in year five, and $1,000 or a financial calculator. Round your answers to 2 decimal places.) Required: 1-a. Assume that an infetest rate of Bx preperly reflects the discount rate in this sulualion and that maintenance costs are paid at the end of esch year, Determine the total cost of cameras. 1.b. Which camera should Hollywood Tabloid purchase? Complete this question by entering your answers in the tabs below. Astume thet an intelest rate of $4 preperfy reflects the alcount rate in this squation and that maintenance costs are paid at. the end of each year. Determine the total cost of cameras