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Davis Inc. has budgeted payments of $10,100 a year to buy new equipment. At a...

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Accounting

Davis Inc. has budgeted payments of $10,100 a year to buy new equipment. At a 8% discount rate, the company plans to finance
Quest annual payments for 3 years with payments at the end of each year. What is the cost of equipment that Davis can afford? (For calculation purposes, use five decimal places as displayed in the factor table provided. Round your answer to two decimal places (e.g.,52.75).)
Table 4: Present Value of an Annuity of 1
\table[[(n),,,,,],[Payments,4%,5%,6%,7%,8%
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