How much will you have in a savings account in ten years, if you deposit $1,900 in the account at the end of each year and the account earns 9% interest, compounded annually? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Round your FV factor to 4 decimal places and final answer to the nearest dollar amount.)

a. $20,710

b. $33,594

c. $19,000

d. $28,867

Grace Corp, whose required rate of return is 17%, is considering the purchase of a new piece of equipment. The internal rate of return of the project, which has a life of 12 years, is 20%. The project would have

a. a payback period more than 12 years.

b. a net present value greater than zero.

c. an accounting rate of return greater than 17%.

d. a net present value of zero.