Question: Check my work 7 MC algo 5-18 Calculating Present Values 2.75 points A small business has determined that the machinery they currently use will wear

Check my work 7 MC algo 5-18 Calculating Present Values 2.75 points A small business has determined that the machinery they currently use will wear out in 18 years. To replace the new machine when it wears out the company wants to establish a savings account today. If the Interest rate on the account is 15 percent per quarter and the cost of the machinery will be $320,000, how much will the company have to deposit today? Multiple Choice O $111.979.05 O $112,110,01

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