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Your boss has asked you to calculate the present value of the salvage value of...

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Finance

Your boss has asked you to calculate the present value of the salvage value of a piece of equipment. The company paid $1,040,000 for the piece of equipment. The will be operated for 6 years. The company will sell the piece of equipment for its salvage value of $180,000 6 years from today. The required rate of return is 8.0% compounded annually. What is the present value of the salvage value? Your answer should be accurate to two decimal places.

115240.55

116472.58

112542.31

113430.53

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