Please Calculate the equivalent series of annual payments (end of the year, 1 to 4) for the investment over the 4 year life with nominal 15% interest rate compounded annually. With 1500 dollars investment at present time, income of 600, 500, 400, and 300 dollars in the end of first, second, third, and fourth year plus resale value of 1200 dollars in the end of fourth year. Please explain your work in detail.

	C=1,500	I=600	I=500	I=400	I=300	L=$1,200
	0	1	2	3	4

C: Cost, I: Income, L: Salvage Value Please be careful about the signs. Costs have negative but income and Salvage Value have positive signs.