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! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! Sheridan

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Sheridan Corporation purchased a special tractor on December 31,2020. The purchase agreement stipulated that Sheridan should pay $18,500 at the time of purchase and $5,000 at the end of each of the next 8 years. The tractor should be recorded on December 31,2020, at what amount, assuming an appropriate interest rate of 10%?

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