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Webster Mining is considering the purchase of a new sorting machine. The quote consists of quarterly payments of $19,000 for 4 years at an annual

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Webster Mining is considering the purchase of a new sorting machine. The quote consists of quarterly payments of $19,000 for 4 years at an annual interest rate of 8.4% (APR with quarterly compounding). =1 10 Attempt 1/10 for 10 pts. If the first payment begins one quarter after date of purchase. What is the purchase price of the equipment? **What if the first payment begins one year after the date of purchase? - - for this question, go to TVM II (BONUS)

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