Question: Please explain why the answer is $514950 Find the present value of an investment in equipment if it is expected to provide annual savings of

Please explain why the answer is $514950

Find the present value of an investment in equipment if it is expected to provide annual savings of $54,000 for 10 years and to have a resale value of $73,000 at the end of that period. Assume an interest rate of 3% and that savings are realized at year end. (Round factor values to 5 decimal places, e.g. 1.25125 and final answer to 0 decimal places, e.g. 458,581.) Click here to view factor tables Present value of investment in equipment ta 514950

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