John Rider wants to accumulate $60,000 to be used for his daughter's college education. He would like to have the amount available on December 31, 2026. Assume that the funds will accumulate in a certificate of deposit paying 8% interest compounded annually. (EV of $1. PV of S1 EVA [S1 PVA of $1. EVAD of Si and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Answer each of the following independent questions. Required: 1. If John were to deposit a single amount how much would he have to invest on December 31, 2021? 2. If John were to make five equal deposits on each December 31, beginning a year later, on December 31, 2022, what is the required 3. If John were to make five equal deposits on each December 31, beginning now on December 31, 2021, what is the required amount of each deposit? (For all requirements, Round your final answers to nearest whole dollar amount.) 1 2 13 Amount Annuity amount Annuity amount Kiddy Toy Corporation needs to acquire the use of a machine to be used in its manufacturing process. The machine needed is manufactured by Lollie Corp. The machine can be used for 10 years and then sold for $22,000 at the end of its useful life. Lollie has presented Kiddy with the following options (FV of S1, PV of $1 EVA 01$1. PVA of S1, EVAD OLS1 and PVAD 0151) (Use appropriate factor(s) from the tables provided.) 1. Buy machine. The machine could be purchased for $172,000 in cash. All insurance costs, which approximate $17.000 per year, would be paid by Kiddy 2. Lease machine. The machine could be leased for a 10-year period for an annual lease payment of $37000 with the first payment due immediately. All Insurance costs will be paid for by the Lole Corp. and the machine will revert back to Lollie at the end of the 10- year period Required: Assuming that a 10% interest rate properly reflects the time value of money in this situation and that all maintenance and insurance costs are paid at the end of each year, determine which option Kiddy should choose. Ignore income tax considerations. (Negative amounts should be indicated by a minus sign. Round your final onswers to nearest whole dollar amount.) PV Buy option Lease option Kiddy should choose