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A company borrowed cash from the bank by signing a 5-year, 8% installment note. The present value of an annuity factor at 8% for 5

A company borrowed cash from the bank by signing a 5-year, 8% installment note. The present value of an annuity factor at 8% for 5 years is 3.9927 The present value of a single sum at 8% for 5 years is 6806. Each annual payment equals $75,000. The present value of the note is: Multiple Choice $56,35284 $18784.28 $375,000.00 $299.452.50 $110196.89

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