Computing the Present Value of a Single Amount Reynolds must accumulate $160,000 in eight years to purchase replacement equipment. Reynolds plans to invest funds today to have the $160,000 accessible at that time. Round answers to the nearest whole dollar. Do not use negative signs with any of your answers. O . a. Assuming a 6% return compounded annually on its investment, how much must Reynolds invest now to reach the goal? $ b. Assuming an 8% return compounded annually on its investment, how much must Reynolds invest now to reach the goal? $ o o 0