Plan a MRE offers to let Axel pay 55,000 each year for 5 years. with a 12% interest per year. Plan b western home will let Axel make a single payment of 425,000 at the end of five years. payment includes both principal and interest at 12%. two companies can provide similar equipment but under different payment plans. calculate present value of plan a and plan b. axel will purchase the equipment that cost the least. as measured by present value. which equipment should axel select and why