LiL Allenpil Progress Sheffield Company is considering purchasing equipment. The equipment will produce the following cash inflows: Year 1. 18.000; Year 2, 23,000; and Year 3,$33,000. Sheffield requires a minimum rate of return of 8%. What is the maximum price Sheffield should pay for this equipment? (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (Round answer to 2 decimal places, es. 5.275.50.) To determine the present value of the future cash flows, discount the future cash flows at 8%, using Table 3. Click here to view the factor table. Year 1 $ Year 2 Year 3 Present value of future cash flows $ On July 17, 2021. Joseph Moore borrowed $56,000 from his grandfather to open a clothing store Starting July 17, 2022. Joseph has to make 10 equal annual payments of $9.000 each to repay the loan. Use a financial calculator to determine what interest rate Joseph is paying. (Round answer to 2 decimal places, eg, 25.50%) Interest rate %