Sheffield Company is considering purchasing equipment. The equipment will produce the following cash inflows: Year 1. 18,000: Year 2.23,000; and Year 3.533,000. Sheffield requires a minimum rate of return of 8%. What is the maximum price Sheffield should pay for this equipment? (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (Round answer to 2 decimal places, es 5.275.50.) To determine the present value of the future cash flows, discount the future cash flows at 8%, using Table 3. Click here to view the factor table. Year 1 Year 2 Year 3 Present value of future cash flows $