and manager's residence, 2-3. On October 1, 2019, Chang Corporation acquired a machine price, at P720,000. Payment of this amount may be made within 60 day X a 10% discount is allowed if cash is paid at the time of purchase contract is signed whereby a down-payment of P 150,000 is made with payments of P25.000 to be made at monthly interval' thereafter for the next 24 months. 150, 070X REQUIRED: 8, 000 ( a) What is the cost of the machine to be recorded at acquisition date? 31, 085 (6) Assume that there is no known cash price for the machine The rate of interest prevailing at that time for similar obligations is 12%. What is the cost of the machine? (Use the present value factor provided in the Appendix)