(1) What is the cost of the machine if Machines Ready was used as a supplier (rounded to the nearest dollar)? (2) What is the cost of the machine if Do-It-Yourself Machines was used as a supplier (rounded to the nearest dollar)? (3) Which machine should Foot Loose purchase? The answer should be either Machines Ready or Do-It- Yourself Machines Ready Do-It-Yourself Machine (4) If the machine is purchased on January 1 of year 1 from Do-It-Yourself Machines, what is the total interest expense to be recorded in year 1 relevant to this transaction, assuming that Foot Loose, Inc. has a December 31 year end? (rounded to the nearest dollar) (5) If the machine is purchased on January 1 of year 1 from Do-It-Yourself Machines, what is the total interest expense to be recorded in year 1 relevant to this transaction, assuming that Foot Loose, Inc. has a September 30th year end? (rounded to the nearest dollar) Quiz navigat 1 2 Foot Loose, Inc., needs to purchase a new shoelace-making machine. Machines Ready has agreed to sell Foot Loose the machine for $22,000 down and four payments of $5,700 to be paid in semiannual installments for the next two years. Do-It-Yourself Machines has offered to sell Foot Loose a comparable machine for $10,000 down and four semiannual payments of $9,000. If the current interest rate is 12%, compounded semiannually. The applicable present value factors are listed below. 10 11 12 on Finish attempt Time left 1:03:5. Present value factor of a single dollar, n=4, i=12% = 0.63552 Present value factor of an ordinary annuity, n=4, i=12% = 3.03735 Present value factor of an annuity due, n=4, i=12% = 3.40183 Present value factor of an ordinary annuity, n=4, i=6% = 3.46511 Present value factor of an annuity due, n=4, i=6% = 3.67301 (1) What is the cost of the machine if Machines Ready was used as a supplier (rounded to the nearest dollar)? (2) What is the cost of the machine if Do-It-Yourself Machines was used as a supplier (rounded to the nearest dollar)? (3) Which machine should Foot Loose purchase? The answer should be either Machines Ready or Do-It- Yourself