2. (Various Time Value Situations) Answer each of these unrelated questions. (a) On January 1, 2017, Manatee Corporation sold a warehouse that cost $411,000 and that had accumulated depreciation of $163,000 on the date of sale. Manatee received as consideration a $400,000 non-interest-bearing note due on January 1, 2021. There was no established exchange price for the building, and the note had no ready market. The prevailing rate of interest for a note of this type on January 1, 2017, was 8%. At what amount should the gain from the sale of the building be reported? (b) On January 1, 2017, Manatee Corporation purchased 1,000 of the $1,000 par value, 6%, 20-year bonds of Fishes Inc. The bonds mature on January 1, 2037, and pay interest annually beginning January 1, 2018. Manatee purchased the bonds to yield 8%. How much did Manatee pay for the bonds? (c) Manatee Corporation bought new equipment and agreed to pay for it in five equal annual installments of $10,000 beginning at the end of next year. Assuming that a prevailing interest rate of 10% applies to this contract, how much should Manatee record as the cost of the equipment? (d) Manatee Corporation purchased a special conveyor system on December 31, 2017. The purchase agreement stipulated that Manatee should pay $50,000 at the time of purchase and $15,000 at the end of each of the next 5 years. The conveyor system should be recorded on December 31, 2017, at what amount, assuming an appropriate interest rate of 8%? (e) Manatee Corporation wants to withdraw $500,000 (including principal) from an investment fund at the end of each year for 12 years. What should be the required initial investment at the beginning of the first year if the fund earns 9%