Discuss the below:
Q: Saul Cervantes has just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of each of the next five years: $10,760, $7,520, $9,920, $12,490, and $11,920. If the appropriate discount rate is 6.385 percent, what is the cost in today's dollars of the equipment Saul purchased today?