I On May 1, 2016, a company purchased a new machine that it does not have to pay for until May 1, 2018. The total payment on May 1, 2018, will include both principal and interest. Assuming interest at a 10% rate, the cost of the machine would be the total payment multiplied by what time value of money concept? a. future value of annuity of 1 b. future value of 1 c. present value of annuity of 1 d. present value of 1