Your firm is considering the purchase of a new office phone system. You can either pay $32,000 now, or $1,000 per month for 41 months. a. Suppose your firm currently borrows at a rate of 5% per year (APR with monthly compounding). Which payment plan is more attractive? b. Suppose your firm currently borrows at a rate of 19% per year (APR with monthly compounding). Which payment plan would be more attractive in this case? ... a. Suppose your firm currently borrows at a rate of 5% per year (APR with monthly compounding). Which payment plan is more attractive? The present value of the monthly cash flows is $ It will be more attractive to (Round to the nearest cent.) (Select from the drop-down menu) b. Suppose your firm currently borrows at a rate of 19% per year (APR with monthly compounding). Which payment plan would be more attractive in this case? The present value of the monthly cash flows is $ It will be more attractive to (Round to the nearest cent.) (Select from the drop-down menu) pay monthly pay now