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(Click the icon to view the Present Value of $1 table.) B Chocolate Chip Pancake Company has budgeted $280,000 to build a new factory 10 years from today. Chocolate Chip will finance the project by making seven annual deposits of $53,000 into a savings fund at the end of each year that commences at the end of year 4. The company's interest rate is 6%. Requirement Prepare a timeline that depicts this time value of money problem. Will Chocolate Chip have sufficient funds to pay for the $280,000 factory at the end of the 10-year period? (Click the icon to view the Future Value of $ 1 table.) (Click the icon to view the Future Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) (Click the icon to view the Present Value of an Ordinary Annuity table.) (Click the icon to view the Present Value of an Annuity Due table.) 1 2 3 4 5 6 7 10 9 10 t=0 OB. PV = X $53,000 $53,000 $53,000 $53,000 $53,000 $53,000 $53,000 OC. PV = X $53,000 $53,000 $53,000 $53,000 D. FVOA = X $53,000 $53,000 $53,000 $53,000 $53,000 $53,000 $53,000 . . . to Will Chocolate Chip have sufficient funds to pay for the $280,000 factory at the end of the 10-year period? (Use the present and future value tables, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round your final answer to two decimal places, X.XX.) , the company will have funds to pay for the $280,000 factory Since the value of the annuity is $ at the end of year 10