Problem C-3A Determine present value alternatives (LOC-2, C-3) Hollywood Tabloid needs a new state-of-the-art camera to produce its monthly magazine. The company is looking at two cameras that are both capable of doing the job and has determined the following: Camera 1 costs $5,700 it should last for eight years and have annual maintenance costs of $240 per year. After eight years, the magazine can sell the camera for $330. Camera 2 costs $5,200. It will also last for eight years and have maintenance costs of $870 in year three, $900 in year five, and $1,000 in year seven. After eight years, the camera will have no resale value. (FV of S1. PV of S1. EVA of S1, and PVA of SI) (Use appropriate foctor(s) from the tables provided, Round your answers to 2 decimal places.) Required: 1-0. Assume that an interest rate of 10% properly reflects the discount rate in this situation and that maintenance costs are paid at the end of each year, Determine the total cost of cameras. Answer is complete but not entirely correct. 1-b. Which camera should Hollywood Tabloid purchase? Camera 2 Camera 10