Question: Webster Mining is considering the purchase of a new sorting machine. The quote consists of quarterly payments of $19,000 for 8 years at an annual

Webster Mining is considering the purchase of a new sorting machine. The quote consists of quarterly payments of $19,000 for 8 years at an annual interest rate of 12% (APR with quarterly compounding). Part 1 Attempt 3/10 for 8 pts. If the first payment begins one quarter after date of purchase. What is the purchase price of the equipment? "What if the first payment begins one year after the date of purchase? --for this question, go to TVM II (BONUS)

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