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Martell Products Inc. can purchase a new copier that will save $5,000 per year in copying costs. The copier will last for six years and

Martell Products Inc. can purchase a new copier that will save $5,000 per year in copying costs. The copier will last for six years and have no salvage value. (refer to attached tables) Required: 1a. What is the maximum purchase price that Martell Products should be willing to pay for the copier if the company?s required rate of return is ten percent? (Round discount factor to 3 decimal places, intermediate and final answers to the nearest dollar amount. Omit the "$" sign in your response.) Present value $ 1b. 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 sixteen percent? (Round discount factor to 3 decimal places, intermediate and final answers to the nearest dollar amount. Omit the "$" sign in your response.) Present value $ image text in transcribed

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