Wiggins Company Is Considering Purchasing Equipment Wiggins Requires a Minimum Rate of Return of 11

Wiggins Company is considering purchasing equipment. The equipment will produce the following cash flows: Year 1, $50,000; Year 2, $90,000; Year 3, $130,000. Below is some of the time value of money information that Wiggins has compiled that might help them in their planning and compounded interest decisions. $$\begin{array} { | l | r | r | r | } \hline & 1 \text { period, } 11 \% & 2 \text { periods, } 11 \% & 3 \text { periods, } 11 \% \\\hline \text { Present value of 1 } & 0.90090 & 0.81162 & 0.73119 \\\hline \text { Future value of 1 } & 1.11000 & 1.23210 & 1.36763 \\\hline \text { Present value of an annuity of 1 } & 0.90090 & 1.71252 & 2.44371 \\\hline \text { Future value of an annuity of 1 } & 1.00000 & 2.12000 & 3.37440 \\\hline\end{array}$$ Wiggins requires a minimum rate of return of 11%. To the closest dollar, what is the maximum price Wiggins should pay for the equipment?

A) $219,137
B) $213,146
C) $218,099
D) $208,499