) Steady Electronics sells a diagnostic machine to a hospital with a four-year (Click the icon to view the Click the icon to view the Presa payment plan. The company would like to estimate the bad debt allowance needed Future V to cover the notes outstanding over the next four years. Estimated lost cash flows (Click the i Data Table and the probability of occurrence for each of the next four years are summarized in Future V the following schedule. The risk-free rate is 7%. Annuity (Click the icon to view the schedule.) (Click the Future V Requirement Projected Cash Flow What is the estimated bad debt allowance at December 31, 2018? table.) Loss from Uncollected Probability of Year Notes Loss Occurring Begin by computing the estimated cash flow loss each year. (Enter all amounts as positive amounts.) 2019 $ 13,000 70 % Projected Cash Flow Expected 14,000 30 % Loss from Uncollected Probability of Cash Flow Year Notes Loss Occurring Loss 2020 $ 11,000 10 % 2019 $ 13,000 70 % 25,000 60 % 14,000 30 % 35,000 30 % Total expected cash flow loss in 2019 2020 $ 11,000 10 % 2021 $ 5,000 60 % 25,000 60 % 16,000 40 % 35,000 30 % 2022 $ 30,000 45 % Total expected cash flow loss in 2020 32,000 55 % 2021 $ 5,000 60 % 16,000 40 % Total expected cash flow loss in 2021 2022 $ 30,000 45 % 32,000 55 % Total expected cash flow loss in 2022 Now compute the estimated bad debt allowance for each year and the total. (Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculations. If using future and present value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round intermediary currency computations and your final answer to the nearest cent, $X.XX.) Projected Cash Flow Year Losses 2019 2020 2021 2022 Total What is the estimated bad debt allowance at December 31, 2018? (Round your final answer to the nearest cent, $X.XX.) The estimated bad debt allowance at December 31, 2018 is $ Enter any number in the edit fields and then continue to the next