1. An environmental testing company needs to purchase equipment 2 years from now and expects to pay $50,000 at that time. At a real interest rate of 10% per year and inflation rate of 4% per year,...

1. An environmental testing company needs to purchase equipment 2 years from now
and expects to pay $50,000 at that time. At a real interest rate of 10% per year and
inflation rate of 4% per year, what is the present worth of the cost of the equipment?