$20,000 cash payment immediately (on 1/1/2021), and 10,000 at the end of every year for the...
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$20,000 cash payment immediately (on 1/1/2021), and 10,000 at the end of every year for the next four years (on 12/31/2021; 12/31/2022; 12/31/2023; and 12/31/2024). Assume a compound interest rate of 12%. Period Present Value of $1 at 12% Present Value of $1 Annuity at 12% 1 0.89 2 0.80 3 0.71 4 0.64 0.89 1.69 2.40 3.04 On January 1, 2021, this machine should be recorded at a cost of: $50,400 $20,000 $30,400 $60,000 $55,400 $20,000 cash payment immediately (on 1/1/2021), and 10,000 at the end of every year for the next four years (on 12/31/2021; 12/31/2022; 12/31/2023; and 12/31/2024). Assume a compound interest rate of 12%. Period Present Value of $1 at 12% Present Value of $1 Annuity at 12% 1 0.89 2 0.80 3 0.71 4 0.64 0.89 1.69 2.40 3.04 On January 1, 2021, this machine should be recorded at a cost of: $50,400 $20,000 $30,400 $60,000 $55,400
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