1)Fishbone Corporation bought a new machine and agreed to pay for it in equal annual installments of $4,410 at the end of each of the next 10 years. Assuming that a prevailing interest rate of 9% applies to this contract, how much should Fishbone record as the cost of the machine?

What is Cost of the machine to be recorded

2)Fishbone Corporation purchased a special tractor on December 31, 2014. The purchase agreement stipulated that Fishbone should pay $21,520 at the time of purchase and $5,810 at the end of each of the next 10 years. The tractor should be recorded on December 31, 2014, at what amount, assuming an appropriate interest rate of 11%?

What is Cost of tractor to be recorded

3)Fishbone Corporation wants to withdraw $122,600 (including principal) from an investment fund at the end of each year for 9 years. What should be the required initial investment at the beginning of the first year if the fund earns 12%?

What is Required initial investment