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21 (1 point) On January 2, 2020, Zimbabwe Corp. purchases a new machine. The company makes a $ 3,000 cash down payment, and agrees to
21 (1 point) On January 2, 2020, Zimbabwe Corp. purchases a new machine. The company makes a $ 3,000 cash down payment, and agrees to pay eight semi-annual instalments of $ 2,000 each, starting July 1, 2020, signing a non-interest-bearing note to this effect. The cash equivalent price of the machine is not known, but the appropriate interest rate for this type of transaction is 8% p.a. Rounding to the nearest dollar (if necessary), Zimbabwe should record the cost of the machine at $ 15,413. $19,000. $16.465. $ 16,000
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