Ray and Rachel are considering the purchase of two deluxe kitchen ovens. The first store offers the two ovens for $2,500 with payment due today. The second store offers the two ovens for $2,700 due in one year. Required: 1-a. Assuming an annual discount rate of 10%, calculate the present value. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.)

Ray and Rachel are considering the purchase of two deluxe kitchen ovens. The first store offers the two ovens for $2,500 with payment due today. The second store offers the two ovens for $2,700 due in one year. Required: 1-a. Assuming an annual discount rate of 10%, calculate the present value. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Store 1 Store 2 Present Value $ 2,500.00 2,452.55 X 1-b. From which store should Ray and Rachel buy their ovens? Store 1 Store 20