QUESTION 5 An agricultural accounting firm is considering purchasing several new copy machines. A $20,000 down payment would be required. Amortized loan payments of S12,000 would then be made at the end of years 1-5. The copiers would have a salvage value of $4,000 at the end of five years. Annual operating expenses would be $3,000 each year. $18,000 in cash inflows each year would be attributed to the copiers. Given a cost of capital of 5%, what is the approximate net present value of this investment? O a $4,329 Ob..$3,877 O c. Cannot be determined Od $3,877 QUESTION 6 An agricultural accounting firm is considering leasing several new copy machines. Annual lease payments of S14,000 would be made at the end of each year, including the first. Annual operating expenses would be $3,000 each year. $18,000 in cash inflows each year would be attributed to the copiers. Given a cost of capital of 5%, what is the approximate net present value of this investment? O a $4,329 Ob -$4,329 O c. $3,877 Od $3,877