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Martell Products Inc. can purchase a new copier that will save $9,000 per year in copying costs. The copier will last for ten years and

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Martell Products Inc. can purchase a new copier that will save $9,000 per year in copying costs. The copier will last for ten years and have no salvage value. Required: 1-a. What is the maximum purchase price that Martell Products should be willing to pay for the copier if the company's required rate of return is eight percent? (Round final answer to the nearest dollar amount.) 1-b. What is the maximum purchase price that Martell Products should be willing to pay for the copier if the company's required rate of return is fourteen percent? (Round final answer to the nearest dollar amount.)

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