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A company purchased a forklift by paying $5,000 as a down payment and $5,000 at the end of each of the next 12 months. What

A company purchased a forklift by paying $5,000 as a down payment and $5,000 at the end of each of the next 12 months. What is the future value of the costs paid for the forklift at the end of one year for financial accounting purposes? The annual nominal interest rate is 16% compounded semi-annually.

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