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Macaro is selling a piece of land. Two offers are on the table. Morton Company offered a $ 4 2 , 0 0 0 down

Macaro is selling a piece of land. Two offers are on the table. Morton Company offered a $

42, 000

down payment and $

35, 200

a year for the next

4

years. Flynn Company offered $

26, 000

down and $

38, 200

a year for the next

4

years. Assume money can be invested at

9 %

compounded annually. What is the value of the offers?

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