Mike Macaro Is Selling A Piece Of Land Two Offers Are On The Table Morton Compan

Mike Macaro is selling a piece of land. Two offers are on the table. Morton Company offered a $33,000 down payment and $34,300 a year for the next 4 years. Flynn Company offered $21,500 down and $39,700 a year for the next 4 years. Assume money can be invested at 9% compounded annually. (Use 3.2397 present value of $1)

a. What is the value of the offers? (Do not round intermediate calculations. Roundyour answers to the nearest cent.)

 ValueMorton Company$ 

Flynn Company$ 

 

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