Jenks Company financed the purchase of a machine by paying $37,000 a year for the next five years, with the first payment due one year from today. The purchase cost of the machine is considered to be the present value of those payments. What was the purchase cost of the machine to Jenks assuming a discount rate of 7%? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations, and round your final answer to the nearest dollar.) Which of the following is false? O A. If the first payment is received at the end of the fifth period, it means the ordinary annuity is deferred for five periods. OB. The present value of a deferred annuity is less than the present value of an annuity not deferred. O c. The future value of a deferred annuity is equal to the future value of an annuity not deferred. OD. To calculate the present value of a deferred annuity, determine the present value of an ordinary annuity for the entire period and subtract the present value of the payments which were not received during the deferral period