a. On January 1 2020, fishbone corp sold a building that cost 250,000 and that had accumulated depreciation of 100,000 on the date of sale. fishbone received as consideration a240,000 non interest bearing note due on January 1 2023. there was no established exchange price for the building and the note had no ready market . the prevailing rate of interest for a note of the type on January 1 2020 was 9%. at what amount should the gain from the sale of the building be reported?

b. on January 1 2020 fishbone corp purchases 300 of the 1000 face value, 9%, 10-year bonds of Walters Inc. the bonds mature on Jan 1 2030 and pay interest annually beginning Jan 1 2021 fishbone purchased the bonds to yield 11% how much did fishbone pay for the bonds?

c. fishbone corp bought a new machine and agreed to pay for it in equal annual installments of 4000 at the end of each of the next 10 years. assuming that a prevailing interest rate of 8% applies to this contract how much should fishbone record as the cost of the machine?

d. fishbone corp purchases a special tractor on dec 31 2020 the purchase agreement stipulated that fishbone should pay 20,000 at the time of purchase and 5000 at the end of each of the next 8 years. the tractor should be recorded on dec 31 2020 at what amount assuming an appropriate interest rate of 12%

e. fishbone corp wants to withdraw 120,000 including pricipal from an investment fund at the end of each year for 9 years. what should be the required initial investment at the beginning of the first year if the fund ears 11%?