8 TFJ Research Associates reports the following intangible assets on its December 31 balance sheet: (Click the icon to view (Click the icon to view 4 the Future Value of $1 5 table.) the Present Value of $1 1(Click the icon to view the intangible assets.) table.) (Click the icon to view the Future Value of an 7 Ordinary Annuity table.) 2(Click the icon to view additional information.) (Click the icon to view the Present Value of an 6 Read the requirements Ordinary Annuity table.) (Click the icon to view the Future Value of an 9 Annuity Due table.) (Click the icon to view the Present Value of an Annuity Due table.) Requirement a. Compute the impairment loss (if any) for each intangible asset Conduct the impairment test indicated for each intangible asset at the end of the year. For each asset, select whether Step 1 of the test is required on the first line. If the test is not required, select "No" on the first line and leave all remaining cells blank in that column, including the "Impairment indicated" cell. (If the test is not required, leave all remaining cells in that column blank.) Start with step 1. Step 1: Franchise Patent Trade Name Step 1 required? (1) (2) (3) (4) (5) Impairment indicated (6) (7) (8) Now, complete step 2 of the impairment test for each intangible asset. Select whether step 2 of the test is required on the first line. (If the test is not required, leave all remaining cells in that column blank. However, if the test is required, but no impairment loss exists, then leave only the impairment loss input cell blank in that column. Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round intermediary calculations and your final answers to the nearest whole dollar.) Step 2: Franchise Patent Trade name Step 2 required (9) (10) (11) (12) (13) Impairment loss Requirement b. Prepare the journal entry necessary to record the impairment loss. (Record debits first, then credits. Exclude explanations from any journal entries. If no entry is required, select "No Entry Required" on the first line of the journal entry table and leave all remaining cells in the table blank.) First, record any impairment loss on franchise. Account Date of impairment (14) (15) |(16) (17) Now, record any impairment loss on patent. Account Date of impairment (18) (19) (20) (21) Next, record any impairment loss on trade name. Account Date of impairment (22) (23) (24) (25) Requirement c. Assuming that TFJ amortizes its finite-life intangible assets using the straight-line method, with no scrap value, prepare the journal entry to record the annual amortization for the first year subsequent to the impairment write-down. (Record debits first, then credits. Exclude explanations from any journal entries. Round intermediary calculations and your final answers to the nearest whole dollar.) Record the entry for amortization expense for franchise. Account Year after impairment (26) (27) (28) (29) Finally, record the entry for amortization expense for patent. Account Year after impairment (30) (31) (32) (33) 1: Intangible Assets Intangible Asset Net Carrying Value Remaining Life Franchise 853,000 5 years Patent 500,000 3 years 3,951,000 Trade name N/A 5,304,000 Total It does not use a separate accumulated amortization account for the intangible assets (i.e., it deducts the amount of amortization directly from the intangible asset account). 2: More Info Management provided the following information related to intangible assets it obtained during the current year Franchise: Due to current market conditions, products sold under the franchise have experienced significant sales declines from possible obsolescence. Patent: TFJ is currently involved in litigation that will determine if the company has the exclusive right to sell the patented product. Legal counsel informed TFJ that the value of the patent will likely be reduced. Trade name: The company is required to test for impairment of its indefinite-life intangible assets annually TFJ's cost of capital is 4%. Management estimates the following future cash flows to be generated over the next five years from the use of its intangible assets: Future Period Franchise Patent Trade Name Year 1 330,000 $ 290,000 $ 850,000 Year 2 270,000 94,000 660,000 Year 3 145,000 13,000 640,000 Year 4 50,000 515,000 28,000 0 369,000 Year 5 $ 823,000 $ 397,000 $ 3,034,000 Total 3: Requirements a. Compute the impairment loss (if any) for each intangible asset. b. Prepare the journal entry necessary to record the impairment loss. c. Assuming that TFJ amortizes its finite-life intangible assets using straight-line method, with no scrap value, prepare the journal entry to record the annual amortization for the first year subsequent to the impairment write-down. 4: Future Value of $1 Future Value of $1 Periods 2% 3% 4% 6% 1% 7% 5% 8% 10% 11% 1.11000 1.12000 12% 13% 1.13000 14% 15% 1.01000 1.02000 1.03000 1.04000 1.05000 1.06000 1.07000 1 1.10000 1.08000 1.09000 1.14000 1.29960 1.15000 .02010 1.040401.06090 1.08160 1.10250 1.12360 1.144901.16640 1.18810 1.21000 1.23210 1.25440 03030 1.06121 1.09273 1.12486 1.15763 1.19102 1.22504 04060 1.08243 1.12551 1.16986 1.21551 1.26248 1.31080 05101 1.104081.15927 1.21665 1.27628 1.33823 1.40255 1.27690 1.32250 1.33100 1.36763 1.40493 1.29503 1.25971 1.48154 1.68896 1.44290 1.52088 1.36049 1.41158 1.46410 1.51807 1.57352 1.63047 1.74901 1.46933 1.53862 1.61051 1.76234 1.68506 1.92541 1.84244 2.01136 1.061521.126161.19405 1.26532 1.34010 1.41852 1.50073 1.58687 1.67710 1.77156 1.87041 6 2.19497 1.97382 2.08195 2.31306 .072141.14869 1.22987 1.31593 1.40710 1.50363 1.60578 1.08286 1.17166 1.26677 1.36857 1.47746 1.59385 1.71819 1.85093 09369 1.195091.30477 1.42331 1.55133 1.68948 1.83846 1.99900 2.17189 2.35795 2.55804 2.77308 .104621.218991.34392 1.48024 1.62889 1.79085 1,96715 2.158922.36736 7 1.71382 1.82804 1.94872 2.076162.21068 2.35261 2.50227 2.66002 2.14359 2.30454 2.47596 1.99256 2.65844 2.85259 3.05902 9 3.25195 3.70722 3.00404 3.51788 10 2.83942 3.10585 2.59374 4.04556 3.39457 |1.11567 1.24337 1.38423 1.53945 1.71034 1.89830 2.10485 2.331642.58043 2.85312 3.151763.47855 12 1.12683 1.26824 1.42576 1.60103 1.79586 2.01220 2.25219 2.51817 2.81266 11 4.22623 3.83586 4.65239 3.13843 3.49845 3.89598 3.88328 4.36349 1.149471.31948 1.51259 1.73168 1.97993 2.26090 2.57853 2.93719 3.34173 3.797504.31044 4.88711 1.16097 1.34587 1.55797 1.80094 2.07893 2.39656 2.75903 3.172173.64248 4.17725 4.784595.47357 4.33452 4.81790 5.35025 .13809 1.29361 1.46853 1.66507 1.88565 2.13293 2.40985 2.71962 3.06580 3.45227 13 4.89801 5.49241 6.15279 14 5.53475 6.26135 7.07571 15 6.25427 7.13794 8.13706 1.17258 1.37279 1.60471 1.87298 2.18287 2.54035 2.95216 3.425943.97031 16 4.594975.31089 6.13039 77 3.15882 3.70002 4.32763 5.054475.89509 6.86604 18 1.19615 1.428251.70243 2.02582 2.40662 2.85434|3.37993 3.99602 4.71712 5.55992 6.54355 7.68997 8.13725 9.27646 7.06733 9.35762 17 1.18430 40024 65 .9479 7.98608 10.76126 9.02427 10.57517 12.37545 1.20811 1.45681 1.75351 2.10685 2.52695 3.02560 3.61653 19 5.14166 6.11591 5.60441 6.72750 4.31570 10.19742 8.062319.6462911.52309 7.26334 12.05569 13.74349 8.61276 14.23177 1.22019 1.48595 1,80611 2.19112 2.65330 3.20714 3.86968 4.66096 20 16.36654 |1.28243 1.640612.09378 2.66584 3.38635 4.29187 5.42743 6.848488.62308 10.83471 13.58546 17.00006 1.34785 1.81136 2.427263.24340 4.32194 5.74349 7.61226 10.06266 13.26768 17.44940 22.89230 29.95992 25 21.23054 26.46192 32.91895 30 39.11590 50.95016 66.21177 98.10018 133.17552 132.78155 188.88351 267.86355 1.56481 2.43785 3.78160 5.84118 8.9850113.76461 21.00245 31.92045 48.32729 72.89048 109.53024 163.98760 244.64140 363.67907538.76927 1.41660 1.999892.81386 3.94609 5.51602 7.68609 10.67658 14.78534 20.41397 28.10244 38.57485 52,79962 35 72.06851 1.48886 2.20804 3.26204 4.80102 7.03999 10.2857214.97446 21.72452 31.40942 45.25926 65.00087 93.05097 40 45 1.644632.69159 4.38391 7.1066811.46740 18.4201529.45703 1.81670 3.281035.89160 50 46.90161 74.35752117.39085 184.56483289.00219 10.51963 18.6791932.9876957.94643101.25706 176.03129 304.48164524.05724 897.59693 1,530.053472,595.918664,383.99875 450.73593 700.232991,083.65744 60 Periods 1% 2% 3% 4% 6% 5% 9% 10% 11% 12% 7% % 13% 14% 15% 5: Present Value of $1 Present Value of $1 2% Periods 4% 5% 1% 3% 6% 7% 9% 10% 8% 11% 12% 13% 15% 0.99010 0.98039 0.97087 0.96154 0.95238 0.94340 0.93458 0.92593 0.91743 0.90909 0.90090 0.892860.88496 0.87719 0.86957 0. 14% 1 0.98030 0.96117 0.94260 0.92456 0.90703 0.89000 0.87344 0.85734 0.84168 0.82645 0.81162 0.79719 0.78315 0.76947 0.756140. 0.97059 0.94232 0.91514 0.88900 0.86384 0.83962 0.81630 0.79383 0.77218 0.75131 0.73119 0.71178 0.69305 0.67497 0.65752 0. 0.96098 0.92385 0.88849 0.85480 0.82270 0.79209 0.76290 0.73503 0.70843 0.68301 0.65873 0.63552 0.61332 0.59208 0.57175 0. 0.95147 0.90573 0.86261 0.82193 0.78353 0.74726 0.71299 0.68058 0.64993 0.62092 0.59345 0.56743 0.54276 0.51937 2 3 5 0.49718 0. 0.94205 0.88797 0.83748 0.79031 0.74622 0.70496 0.66634 0.63017 0.59627 0.56447 0.53464 0.50663 0.48032 0.45559 0.43233 0. O.93272 0.87056 0.81309 0.75992 0.71068 0.66506 0.62275 0.58349 0.54703 0.51316 0.48166 0.45235 0.42506 0.39964 0.375940 0.92348 0.85349 0.78941 0.73069 0.67684 0.62741 0.58201 0.54027 0.50187 0.46651 0.43393 0.40388 0.37616 0.35056 0.32690 0 7 0.91434 0.83676 0.766420.70259 0.64461 0.59190 0.54393 0.50025 0.46043 0.42410 0.39092 0.36061 0.33288 0.30751 0.28426 0. 0.90529 0.82035 0.74409 0.67556 0.61391 0.55839 0.50835 0.46319 0.42241 0.38554 0.35218 0.32197 0.29459 0.26974 0.24718 0 10 0.89632 0.80426 0.72242 0.64958 0.58468 0.52679 0.47509 0.42888 0.38753 0.35049 0.31728 0.28748 0.26070 0.23662 0.21494 0. 0.88745 0.78849 0.70138 0.62460 0.55684 0.49697 0.44401 0.39711 0.35553 0.31863 0.285840.25668 0.23071 0.20756 0.18691 0.1 0.87866 0.77303 0.68095 0.60057 0.53032 0.46884 0.41496 0.36770 0.32618 0.28966 0.25751 0.22917 0.20416 0.18207 0.16253 0.1 0.86996 0.75788 0.66112 0.57748 0.50507 0.44230 0.38782 0.34046 0.29925 0.26333 0.23199 0.20462 0.18068 0.15971 0.14133 0. 11 12 13 14 0.86135 0.74301 0.64186 0.55526 0.48102 0.41727 0.36245 0.31524 0.27454 0.23939 0.20900 0.18270 0.15989 0.14010 0.12289 0.1 15 0.85282 0.72845 0.62317 0.53391 0.45811 0.39365 0.33873 0.29189 0.25187 0.21763 0.18829 0.16312 0.14150 0.12289 0.10686 0. 0.84438 0.71416 0.60502 0.51337 0.83602 0.70016 0.58739 0.49363 0.41552 0.35034 0.29586 0.25025 0.21199 0.17986 0.15282 0.13004 0.110810.09456 0.08081 0. 0.82774 0.68643 0.57029 0.47464 0.39573 0.33051 0.27651 0.23171 0.19449 0.16351 0.13768 0.11611 0.09806 0.08295 0.07027 0. 0.81954 0.67297 0.55368 0.45639 0.37689 0.31180 0.25842 0.21455 0.178430.14864 0.12403 0.10367 0.086780.07276 0.06110 0. 16 17 0.37136 0.31657 0.27027 0.23107 0.19784 0.16963 0.14564 0.12522 0.10780 0.09293 0. 4363 18 19 20 0.77977 0.60953 0.47761 0.37512 0.29530 0.23300 0.18425 0.14602 0.11597 0.09230 0.07361 0.05882 0.04710 0.03779 0.03038 0. 0.74192 0.55207 0.41199 0.30832 0.23138 0.17411 0.13137 0.099380.07537 0.05731 0.04368 0.03338 0.02557 0.01963 0.01510 0. 0.70591 0.50003 0.35538 0.25342 0.18129 0.13011 0.09366 0.06763 0.04899 0.03558 0.02592 0.01894 0.01388 0.01019 0.00751 0.0 25 30 35 0.67165 0.45289 0.30656 0.20829 0.14205 0.09722 0.06678 0.04603 0.03184 0.02209 0.01538 0.01075 0.00753 0.00529 0.00373 0. 0.63905 0.41020 0.26444 0.17120 0.11130 0.07265 0.04761 0.03133 0.02069 0.01372 0.00913 0.00610 0.00409 0.00275 0.00186 0. 40 45 0.60804 0.37153 0.22811 0.14071 0.08720 0.05429 0.03395 0.02132 0.01345 0.00852 0.00542 0.00346 0.00222 0.00143 0.00092 0. 0.55045 0.30478 0.16973 0.09506 0.05354 0.03031 0.01726 0.00988 0.00568 0.00328 0.00191 0.00111 0.00065 0.00039 0.00023 0. 50 60 3% Periods 1% 2% 5% 8% 4% 6% 7% 9% 10 % 11% 12% 13% 14% 15% 6: Future Value of an Ordinary Annuity Future Value of an Ordinary Annuity Periods 2% 1.00000 1% 3% 4% 5% 8% 11% 12% 6% 7% 9% 10% 13% 1.00000 1.00000 1.00000 2.09000 1.00000 2.12000 1.00000 2.11000 3.34210 4.70973 1.00000 1 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 2.01000| 2.02000 2.03000| 2.04000| 2.05000| 2.06000| 2.07000 3.03010 3.06040 3.09090 3.12160 2.08000 3.24640 2.13000 3.40690 4.84980 2.10000 3 3.15250 3.18360 3.21490 3.27810 3.31000 3.37440 4.24646 4.31013 437462 4.43994 5.20404 5.30914 5.416325.52563 5.63709 5.75074 4 4.06040 4.12161 4.18363 4.77933 6.35285 4.50611 4.57313 4.64100 5.10101 6.10510 5 5.86660 6.48027 5.98471 6.22780 6.30812 6.46841 6.632986.80191 6.975327.15329 7.43428 7.66246 7.89829 8.14201 8.393848.65402 9.89747 10.25980 9.75463 10.15911 10.58280 11.02656 11.49132 11.97799 10 10.46221 10.94972 11.46388 12.00611 12.57789 13.18079 13.81645 6 6.15202 8.32271 10.40466 12.75726 7.33593 7.52333 7.71561 7.91286 8.11519 8.92280 10.63663 12.48756 7.21354 7 9.20043 9.78327 9.48717 10.08901 8.28567 9.36853 8.58297 8.892349.214239.54911 12.29969 14.77566 17.54874 8 11.43589 11.02847 11.85943 13.02104 13.57948 14.16397 15.41571 18.41975 14.48656 15.19293 15.93742 16.72201 11.56683 12.16872 12.80780 13.48635 14.20679 14.97164 15.78360 12.68250 13.41209 14.19203 15.02581 15.91713 16.86994 17.88845 3.80933 14.68033 15.61779 16.62684 17.71298 18.88214 20.14064 16.64549 18.97713 11 17.56029 20.14072 19.56143 20.65458 21.38428 22.71319 24.13313 26.21164 28.02911 18.53117 21.81432 25.65018 29.98470 34.88271 40.41746 12 13 22.95338 24.5227 26.01919 27.9749830.09492 21.49530 14.94742 15.97394 17.08632 18.29191 19.59863 21.01507 22.5504924.21492 16.09690 17.29342 18.59891 20.02359 21.57856 23.27597| 25.12902 14 32.39260 27.15211 29.3609231.77248 15 37.27971 34.40536 17.25786 18.63929 20.15688 21.82453 23.65749 25.67253 27.8880530.32428 18.43044 20.01207] 18 19.61475 21.41231 23.41444 25.6454128.13238 30.90565 33.99903 20.81090 22.84056 25.11687 27,67123 30.53900 33.75999 37.37896 22.01900 24.29737 26.87037 29.7780833.0659536.78559 40.99549 16 33.00340 36.97370 40.54470 41.30134 41.44626 46.01846 51.16012 35.94973 39.18995 44.50084 50.39594 56.93949 42.75328 46.67173 53.73906 1.76159 23.69751 25.84037 28.21288 30.84022 33.75023 17 48.88367 37.45024 45.59917 55.74971 61.72514 19 70.74941 80.94683 63.43968 51.15909 45.76196 20 57.27500 64.20283 72.05244 28.24320 32.03030 36.45926 41.64591 47.72710 54.86451 63.24904 34.78489 40.56808| 47.57542| 56.08494 66.43885 79.05819 94.46079 113.28321 136.30754| 164.49402 199.02088 241.33268 41.66028 49.99448 60.46208| 73.65222 90.32031111.43478 138.23688 172.31680 215.71075 271.02437 48.88637 60.40198 75.40126 95.02552120.79977 154.76197 199.63511 259.05652 337.88245442.59256 581.82607 767.09142 1,013.70424 1,3 56.48107 71.89271 92.71986 121.02939159.70016212.74351285.74931 386.50562 525.85873 718.90484986.638561,358.23003 1,874.16463 2,5 64.46318 84.57940112.79687 152.66708209.34800 290.33590 406.52893 573.77016 815.08356 1,163.908531,668.771152,400.01825 3,459.50712 4,9 73.10594 25 84.70090 98.34706 114.41331 133.33387 155.61956 18 30 293.19922 3 35 341.58955 431.66350 546.68082 6 40 45 50 81.66967|114.05154/163.05344237.99069353.58372533.12818 813.520381,253.213301,944.792133,034.816404,755.065847,471.6411111,761.94979|18,5; 1% 60 2% 5% Periods 3% 4% 8% 6% 7% 9% 10% 11% 13% 12% 7: Present Value of an Ordinary Annuity Present Value of an Ordinary Annuity Periods 2% 1% 3% 4% 5% 6% 7% 8% 9% 10% 11% 13% 12% 14% 15% 0.99010 0.98039 0.97087 0.96154 0.95238 0.94340 0.93458 0.92593 0.91743 0.90909 0.90090 0.89286 0.88496 0.87719 0.86957 0. 1.97040 1.94156 1.91347 2.94099 2.88388 2.82861 2.77509 2.72325 2.67301 2.62432 2.57710 1 2 1.88609 1.85941 1.83339 1.80802 1.78326 1.75911 1.73554 1.71252 1.69005 1.66810 1.64666 1.62571 1. 2.53129 2.48685 2.44371 2.40183 2.36115 2.32163 2.28323 2. 3.62990 3.54595 3.46511 3.38721 3.31213 3.23972 3.16987 3.10245 3.03735 2.97447 291371 2.85498 2. 3.90197 3.80773 3.71710 4.85343 4.71346 4.57971 4.45182 4.32948 4.21236 4.10020 3.99271 3.88965 3.79079 3.69590 3.60478 3.51723 3.433083.35216 3 5.79548 5.60143 5.417195.24214 5.07569 4.91732 4.76654 4.62288 6 48592 4.35526 4.23054 4.11141 3.99755 3.88867 3.78448 3. 6.72819 6.47199 6.23028 6.00205 5.78637 5.582385.38929 5.20637 5.032954.86842 4.71220 4,56376 4.42261 4.28830 4.16042 4. 7 7.65168 7.32548 7.01969 6.732746.46321 6.209795.97130 5.74664 5.53482 5.33493 5.14612 4.96764 4.79877 4.63886 4.48732 4 8.56602 8.16224 7.78611 743533 7.10782 6.80169 6.51523 6.246895.99525 5.75902 5.53705 5.32825 5.13166 4.94637 4.77158 4. 9.47130 8.98259 8.53020 8.11090 7.72173 7.36009 7.02358 6.71008 6.41766 6.14457 5.88923 5.65022 5.426245.21612 5.01877 4. 10 10.36763 9.78685 9.25262 8.76048 8.30641 11.25508 10.57534 9.95400 9.38507 8.86325 8.38384 7.94269 7.53608 7.160736.81369 6.49236 6.19437 5.91765 5.660295.42062 5 12.13374 11.34837 10.63496 9.98565 9.39357 8.85268 8.35765 7.90378 7.48690 7.10336 6.74987 6.42355 6.12181 5.84236 5.58315 5. 13.00370 12.10625 11.29607 10.56312 9.89864 9.29498 8.74547 8.24424 7.78615 7.36669 6.981876.62817 6.30249 6.00207 13.86505 12.84926 11.93794 11.11839 10.37966 9.71225 9.10791 8.55948 8.06069 7.60608 7.19087 6.81086 6.46238 6.14217 5.847375. 11 7.88687 7.49867 7.138966.80519 6.49506 6.20652 5.93770 5.686945.45273 5.23371 5. 12 13 14 5.72448 5 15 14.71787 13.57771 12.56110 11.65230 10.83777 10.10590 9.44665 8.85137 8.31256 7.82371 7.379166.97399 6.60388 6.265065.95423 5 15.56225 14.29187 13.16612 12.16567 11.27407 10.477 16.39827 14.99203 13.75351 12.65930 11.68959 10.82760 10.05909 9.371898.75563 8.20141 7.70162 7.24967 6.83991 6.467426.12797 5 17.22601 15.67846 14.32380 13.13394 12.08532 11.15812 10.33560 9.603608.95011 8.36492 7.83929 7.365786.93797 6.55037 6.19823 5.8 18.04555 16.35143 14.87747 13.59033 12.46221 11.46992 10.594019.81815 9.12855 8.51356 7.96333 7.469447.02475 6.62313 6.25933 5. 16 17 22 9.12164 8.54363 8.02155 7.54879 7.11963 6.72909 6.37286 6.047165. 9. 18 19 20 22.02316 19.52346 17.41315 15.62208 14.09394 12.78336 11.65358 10.67478 9.82258 9.07704 8.42174 7.84314 7.32998 6.87293 6.46415 6. 25.80771 22.39646 19.60044 17.29203 15.37245 13.76483 12.40904 11.25778 10.27365 9.42691 8.69379 8.05518 7.49565 7.00266 6.56598 6. 29.40858 24.99862 21.48722 18.66461 16.37419 14.49825 12.94767 11.65457 10.56682 9.64416 8.85524 8.17550 7.58557 7,07005 6.61661 6 32.83469 27.35548 23.11477 19.79277 17.15909 15.04630 13.33171 11.92461 10.75736 9.779058.95105 8.243787.63438 7.10504 6.64178 6 36.09451 29.49016 24.51871 20.72004 17.77407 15.45583 13.60552 12.10840 10.88120 9.86281 9.00791 8.28252 7.660867.12322 6.65429 6 39.19612 31.42361 25.72976 21.48218 18.25593 15.76186 13.80075 12.23348 10.96168 44.95504 34.76089 27.67556 22.62349 18.92929 16.16143 14.03918 12.37655 11.04799 25 30 35 40 45 50 9.91481 9.04165 8.30450 7.67524 7.13266 6.660516 9.96716 9.07356 8.324057.687287.14011 6.665156 60 1% Periods 3% 2% 5% 6% 7% 4% 8% 9% 10% 11% 12% 13% 14% 15% 8: Future Value of an Annuity Due Future Value of an Annuity Due Periods 2% 3% 4% 1% 5% 6% 8% 7% 11% 9% 10% 12% 13% 1.01000 2.03010 3.06040 1 1.02000 1.03000 1.06000 1.07000 1.04000 1.09000 1.05000 1.11000 2.34210 3.70973 5.22780 1.12000 2.37440 3.77933 5.35285 1.13000 2.40690 3.84980 5.48027 1.08000 1.10000 2.06040 2.09090 2.12160 2.15250 2.18360 2.21490 2 2.24640 2.27810 2.31000 3 3.183633.24646 3.37462 3.43994 4.63709 3.12161 3.31013 3.50611 3.57313 3.64100 4.20404 4.30914 4.41632 5.30812 5.46841 5.632985.801915.97532 6.15329 4 4.10101 4.86660 6.33593 4.52563 5.10510 4.75074 4.98471 5.15202 6.52333 7.11519 6.71561 6.91286 7.32271 6.43428 6.66246 6.898297.14201 6.21354 7.39384 7.65402 7.892348.21423 8.549118.897479.25980 8.20043 7.92280 9.40466 11.75726 8.48717 9.08901 11.29969 8.78327 7.28567 7.58297 7 9.63663 11.48756 13.48656 15.64549 10.02847 10.85943 10.43589 8.36853 8.75463 9.15911 9.58280 10.02656 10.49132 10.97799 12.02104 14.19293 14.93742 15.72201 13.77566 16.54874 19.65458 12.57948 13.16397 14.41571 9.46221 9.94972 10.46388 11.00611 11.57789 12.18079 12.81645 9 17.41975 20.81432 10.56683 11.16872 11.80780 12.48635 13.2067913.97164 14.78360 10 16.56029 17.53117 18.56143 11.68250 12.41209 13.19203 14.02581 14.91713 15.86994 16.88845 11 17.97713 19.14072 20.38428 21.71319 23.13313 25.21164 27.02911 23.21492 25.01919 26.97498 29.09492 31.39260 30.77248 33.40536 36.27971 24.65018 28.98470 33.88271 39.41746 12.80933 13.68033 14.61779 15.62684 16.7129817.88214 19.14064 13.94742 14.97394 16.08632 17.29191 18.59863 20.01507 21.55049 14 15.09690 16.29342 17.59891 19.02359 20.57856 22.27597 24.12902 26.15211 16.25786 17.63929 19.15688 20.82453 22.65749 24.67253 26.88805 12 20.49530 21.95338 23.52271 13 28.36092 32.00340 15 29.32428 34.94973 38.18995 45.67173 41.75328 17.43044 19.01207 20.76159 22.69751 24.84037 27.21288| 29.84022 18.61475 16 32.75023 35.9737039.54470 40.30134 45.01846 50.16012 43.5008447.88367 49.39594 54.74971 62.43968 52.73906 22.41444 24.64541 27.13238 29.90565 32.99903 18 19.81090 21.84056 24.11687 26.67123 29.53900 32.75999 36.37896 17 44.59917 36.45024 40.44626 44.76196 49.42292 60.72514 69.74941 55.93949 63.20283 50.15909 21.01900 23.29737 25.87037 28.77808 32.06595 35.78559 39.99549 19 71.05244 80.69874 56.27500 79.94683 91.46992 20 22.23919 24.78332 27.6764930.96920 34.71925 38.99273 43.86518 63.00250 71.26514 55.76453 11 28.52563 32.67091 37.55304 43.31174 50.11345 58.15638 67.67647 30 35.13274 41.37944 49.00268 58.32834 69.76079 83.80168 101.07304 122.34587148.57522 180.94342 220.91317 270.29261331.31511 42.07688 50.99437 62.27594 76.59831 94.83632118.12087 147.91346 186.10215 235.12472 298.12681 25 78.95442 92.32398 108.18177 126.99877 149.33393 175.85010 20 35 379.16441 483.46312 617.74933 7 49.37524 61.61002 77.66330 98.82654 126.83976 164.04768213.60957279.78104368.29187 486.85181 645.82693 859.14239 1,145.48579 1,5 57.04589 73.33056 95.50146125.87057 167.68516225.50812305.75176417.42607573.18602 790.795321,095.16880 1,521.21764 2,117.80603 2,9 40 45 65.10781 86.27099116.18077 158.7737721981540 307.75606434.98595 619.67177 888.441081,280.299381,852.33598 2,688.02044 3,909.24304 5,6 82.48637 116.33257167.94504 247.51031371.26290565.11587 870.466811,353.470362,119.823423,338.298035,278.12308 8,368.23805 13,291.0032721,1 50 60 Periods 1% 2% 3% 5% 4% 7% 6% 9% 10% 12% 13% 8% 11% 9: Present Value of an Annuity Due Present Value of an Annuity Due Periods 2% 1% 4% 5% 1.00000 1.00000 1.00000 3% 7% 8% 6% 9% 10% 11% 12% 13% 14% 15% 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1. 1.99010 1.98039 1.97087 1.96154 1.95238 1.94340 1.93458 1.92593 1.91743 1.90909 1.90090 1.89286 1.884961.87719 1.86957 1 1.00000 1.00000 1.00000 1 1.00000 2 2.97040 2.94156 2.91347 2.88609 2.85941 2.83339 2.80802 2.78326 3 2.75911 2.73554 2.71252 2.69005 2.66810 2.64666 2.62571 2. 3.94099 3.88388 3.82861 3.77509 3.72325 3.67301 3.62432 3.57710 3.53129 3.48685 3.44371 3.40183 3.36115 3.32163 3.28323 3. 4.90197 4.80773 4.717104.62990 4.54595 4.465114.387214.31213 4.23972 4.16987 4.10245 4.03735 3.97447 3.91371 3.85498 3. 5.85343 5.71346 5.579715.45182 5.32948 5.212365.10020 4.99271 6.79548 6.60143 6.41719 6.24214 6.07569 5.91732 576654 5.622885.485925.35526 5.230545.11141 4.997554.88867 4.78448 4 7.72819 7.47199 7.230287.00205 6.78637 6.58238 6.38929 6.20637 6.03295 5.86842 5.712205.563765.42261 5.288305.16042 5 6 .88965 4.79079 4.69590 4.60478 4.517234.43308 4.35216 4 7 8.65168 8.32548 8.01969 7.73274 7.46321 7.20979 6.97130 6.74664 6.53482 6.33493 6.146125.96764 5.79877 5.63886 5.48732 5 9.56602 9.16224 8.786118.43533 8.10782 7.80169 7.51523 7.24689 6.99525 6.75902 6.537056.32825 6.131665.94637 5.77158 5. 10 10.47130 9.98259 9.53020 9.11090 8.72173 8.36009 8.02358 7.71008 7.41766 7.14457 6.88923 6.65022 6.42624 6.21612 6.01877 5 11.36763 10.78685 10.25262 9.76048 9.30641 8.88687 8.49867 8.13896 7.80519 7.49506 7.20652 6.93770 6.68694 6.452736.23371 6. 12.25508 11.57534 10.95400 10.38507 9.86325 9.38384 8.94269 8.53608 8.16073 7.81369 7.49236 7.19437 6.91765 6.66029 6.42062 6. 11 12 13 13.13374 12.34837 11.63496 10.98565 10.39357 9.852689.35765 8.90378 8.48690 8.10336 7.74987 7.42355 7.12181 6.84236 6.58315 6. 14.00370 13.10625 12.29607 11.56312 10.89864 10.29498 9.74547 9.24424 8.78615 8.366697.98187 7.628177.30249 7,00207 6.724486. 14 15 14.86505 13.84926 12.93794 12.11839 11.37966 10.71225 10.10791 9.55948 9.06069 8.60608 8.19087 7.81086 7.46238 7.142176.84737 6. 15.71787 14.57771 13.56110 12.65230 11.83777 11.10590 10.44665 9.85137 9.31256 8.82371 8.37916 7.97399 7.60388 7.26506 6.95423 6 16.56225 15.29187 14.16612 13.16567 12.27407 11.47726 10.76322 10.12164 9.54363 9.02155 8.54879 8.11963 7.72909 7.37286 7.04716 6. 17.39827 15.99203 14.75351 13.65930 12.68959 11.8276011.05909 10.37189 9.75563 9.20141 8.70162 8.24967 7.83991 7,46742 7,127976. 18.22601 16.67846 15.32380 14.13394 13.08532 12.15812 11.33560 10.60360 9.95011 9.364928.83929 8.36578 7.937977.55037 7.19823 6. 16 17 18 19 20 22.24339 19.91393 17.93554 16.24696 14.79864 13.55036 12.46933 11.52876 10.70661 9.984749.34814 8.78432 8.28288 7.83514 7.43377 7 25 30 26.06579 22.84438 20.18845 17.98371 16.14107 14.59072 13.27767 12.15841 11.19828 10.36961 9.65011 9.02181 8.47009 7.98304 7.55088 7. 29.70267 25.49859 22.13184 19.41120 17.19290 15.36814 13.85401 12.58693 11.51784 10.608579.82932 9.15656 8.57170 8.05985 7.60910 7 35 33.16303 27.90259 23.80822 20.58448 18.01704 15.94907 14.26493 12.87858 11.72552 10.756969.93567 9.23303 8.626848.09975 7.63805 7. 36.45545 30.07996 25.25427 21.54884 18.66277 16.38318 14.55791 13.07707 11.86051 10.84909 9.99878 9.27642 8.656788.12047 7.65244 7 39.58808 32.05208 26.50166 22.34147 19.16872 16.70757 14.76680 13.21216 11.94823 10.90630 10.03624 9.30104 8.67302 8.13123 7,65959 7 45.40459 35.45610 28.50583 23.52843 19.87575 17.13111 15.02192 13.36668 12.04231 10.96387 10.07165 9.32294 8.68663 8.13972 7.66492 7 40 45 50 60 1% Periods 3% 2% 5% 6% 4% 8% 9% 7% 10% 11% 12% 13% 14% 15%