Powder Meadows, a ski resort in America, plans to add ski lifts to its resort and has decided to use the ski lifts byA obtaining a medium-term loan of $ 248,000 over a period of 6 years and interest of 12%.

The ski lift has a residual value of $ 16,000 in year five and the tax rate is 35%. Depreciation used is the straight-line method. Powder Meadows asks you to be able to analyse what the value of the annual instalment payments is, and what is the true value of all the payments made by Powder Meadows during those 6 years