P9-3 (Static) Computing Equal Periodic Debt Payments, and Completing a Schedule P9-3 (Static) Computing Equal Periodic Debt

P9-3 (Static) Computing Equal Periodic Debt Payments, and Completing a Schedule

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P9-3 (Static) Computing Equal Periodic Debt Payments, and Completing a Schedule LO9-2 Alimentex Inc. develops, manufactures, and markets a wide range of fruit and vegetable juices and drinks as well as specialty food products, such as fondue broths and sauces, soups, gravies, pestos, and sauces for pasta and pizza. Use Table 8C1, Table 8C.2 (Round time value factor to 4 decimal places.) The company's long-term debt includes the following obligations: Long-Term Debt 1. Obligation related to the acquisition of equipment, 5.5%, payable starting in December 2020 in eight equal annual blended instalments of $262,212 through 2027. 2. Obligation under a lease for distribution equipment, 9.7%, payable starting in December 2021 in 11 equal semi-annual blended instalments of $44,998, through December 2026. As of Dec. As of Dec. 31, 2022 31, 2021 (In thousands of dollars) $1,120 $1,310 293 350 Required: 1. Assume that the equipment related to the first obligation was acquired on January 1, 2020 and that the first payment of $262,212 was made on December 31, 2020. Verify that the carrying amount reported by the company as of December 31, 2022 represents the present value of the remaining annual payments. (Note: Tables 8C.1 and 8C.2 do not include the 5.5 percent interest rate. Use Microsoft Excel or a calculator to compute the present value of future payments.) (Enter your answer in dollars not in thousands of dollars rounded to the nearest whole dollar.) Carrying amount P9-3 (Static) Computing Equal Periodic Debt Payments, and Completing a Schedule LO9-2 Alimentex Inc. develops, manufactures, and markets a wide range of fruit and vegetable juices and drinks as well as specialty food products, such as fondue broths and sauces, soups, gravies, pestos, and sauces for pasta and pizza. Use Table 8C1, Table 8C.2 (Round time value factor to 4 decimal places.) The company's long-term debt includes the following obligations: Long-Term Debt 1. Obligation related to the acquisition of equipment, 5.5%, payable starting in December 2020 in eight equal annual blended instalments of $262,212 through 2027. 2. Obligation under a lease for distribution equipment, 9.7%, payable starting in December 2021 in 11 equal semi-annual blended instalments of $44,998, through December 2026. As of Dec. As of Dec. 31, 2022 31, 2021 (In thousands of dollars) $1,120 $1,310 293 350 Required: 1. Assume that the equipment related to the first obligation was acquired on January 1, 2020 and that the first payment of $262,212 was made on December 31, 2020. Verify that the carrying amount reported by the company as of December 31, 2022 represents the present value of the remaining annual payments. (Note: Tables 8C.1 and 8C.2 do not include the 5.5 percent interest rate. Use Microsoft Excel or a calculator to compute the present value of future payments.) (Enter your answer in dollars not in thousands of dollars rounded to the nearest whole dollar.) Carrying amount