24. The Sanchez Company purchased a delivery truck on February 1, 2018. The purchase agreement required Sanchez to pay the total amount due of $15,000 on February 1, 2019. Assuming an 8% rate of interest, the calculation of the present value of the truck would involve multiplying $15,000 by the: a) b) c) d) Present value of $1. Present value of an ordinary annuity of $1. Future value of S1. Future value of an ordinary annuity of $1. 17. The Claxton Company manufactures children's toys and also has a division that makes automobile parts. Due to a change in its strategic focus, the company sold the automobile parts division. The division qualifies as a component of the entity according to GAAP. How should Claxton report the sale in its 2016 income statement? A. Report it as restructuring costs due to change in strategy B. Report it as income or loss from a discontinued operation. C. Report the sale as income or loss from operations included in income from continuing operations D. Report it as a gain/loss on sale of investments included in income from continuing operations