24. Kansas Company acquired a building valued at $210,000 for property tax purposes in exchange for 2,000 shares of its $5 par common stock The stock is widely traded at selling for $15 per share. At what amount should the building be recorded by Kansas Company? $60,000 6. $180,000 C. $210,000 $120,000 e. None of the above. 25. As an accountant at City Bank in New York, Ken, the loan officer called you for some help on a loan application that he is working on. One of his customers is looking for a $50,000 loan for a car. He is offering him a 7% 5-year $50,000 loan and asking you to help him with the installment amount. Drawing on your understanding of the concept of present value, how much would be the installment amount: This is the data he sent you: Face Amount of Loan.... $50,000 Contract rate of interest 7% Term of the loan 5 years present value = $ 35, 649, 31 PV = FV / ( 1 + r)20