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A farmer purchased a tractor by signing a zero interest note for $350,000 that is due in full in 3-years. The normal lending rate for

A farmer purchased a tractor by signing a zero interest note for $350,000 that is due in full in 3-years. The normal lending rate for the debt of this type would be 8%. Knowing that money has a cost over time, what is the value of the tractor at the time of purchase?

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