Word Problem $13-26($Algo$)[$LU $13-2(1)]$

Mike Macaro is selling a piece of land. Two offers are on the table. Morton Company offered a $$35,000$ down payment and $$34,500$ a year for the next $5$ years. Flynn Company offered $$22,500$ down and $$39,500$ a year for the next $5$ years. Assume money can be invested at $8\%$ compounded annually. $($Use Table $13\mathrm{.}2.)$

a$.$ What is the value of the offers?

Note: Do not round intermediate calculations. Round your answers to the nearest cent.

$\backslash$table$[[,$Value$],[$Morton Company,$],[$Flynn Company,$]]$

b$.$ Which offer is better for Mike?

$$ Flynn Company

$$ Morton Company