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13. The Omagosh Company purchased office furniture for $30,000 and agreed to pay for the purchase by making three annual installment payments beginning one year

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13. The Omagosh Company purchased office furniture for $30,000 and agreed to pay for the purchase by making three annual installment payments beginning one year from today. The installment payments include an interest rate 3% compounded annually. Present and future value tables of $1 at 3% are presented below: FV $1 1.03000 1.06090 1.09273 PV $1 0.97087 0.94260 0.91514 FVA $1 1.0000 2.0300 3.0909 0.97087 1.91347 2.82861 PVA$1FVAD $1PVAD $1 1.0300 2.0909 3.1836 1.00000 1.97087 2.9134 2 What is the required annual installment payment (rounded to the nearest dollar)? A. $10,606 B. $10,297 C. $9,706 D. $9,423

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