Answer each of these unrelated questions using the Excel. For each question, show NPER, PMT, RATE, PV, FV, etc.

1. Polo Publishers purchased a multi-color offset press with terms of $50,000 to be paid at the date of purchase, and a noninterest-bearing note requiring payment of $20,000 at the end of each year for five years. The interest rate implicit in the purchase contract is 11%. Polo would record the asset at:
2. Williams Inc. signed a $200,000 noninterest-bearing note due in five years from a production company eager to do business. Comparable borrowings have carried an 10.25% interest rate. What is the value of this debt at its inception?
3. A firm leases equipment that calls for 12 semiannual payments of $39,014.40. The first payment is due at the inception of the lease. The annual rate on the lease is 6.25%. What is the value of the leased asset at inception of the lease?