Monroe Corporation is considering the purchase of new equipment. The equipment will cost $36,000 today. However, due to its greater operating capacity, Monroe expects the new equipment to earn additional revenues of $5,250 by the end of each year for the next 10 years. Required: 1-a. Assuming a discount rate of 5% compounded annually, calculate the present value of annuity. (FV of $1, PV of $1, FVA of $1, and PVA of $1) 1-b. Should Monroe make the purchase? Complete this question by entering your answers in the tabs below. Req 1A Req 1B Assuming a discount rate of 5.0% compounded annually, calculate the present value of annuity. (Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places.) Present value of annuity < Req 1A Req 1B >