Answer the following questions

1. Pharoah Companysigns a contract to sell the use of its patented manufacturing technology toWhispering Winds Corp.for17years. The contract for this transaction stipulates thatWhispering Winds Corp.paysPharoah$19,000at the end of each year for the use of this technology. Using a discount rate of10%, what is the value in use of the patented manufacturing technology?(For calculation purposes, use 5 decimal places. Round final answer to 2 decimal places, e.g. 5,275.25.)
2. Refer to Chart 1, fill in the blanks

Determine the amount of interest that will be earned on each of the following investments: (Round answers to 2 decimal places, e.g. 15.25.) (n) Interest Number of Investment Rate Periods Type of Interest Amount of Interest a. $120 4% Simple b. $525 9% 2 Simple C $525 8% 2 CompoundA review of the accounts of Skysong Accountants reflected the following transactions, which may or may not require adjustment for the year ended December 31, 2020. 1. The Prepaid Rent account shows a debit of $7.200 paid October 1, 2020, for a one-year lease that started on that day. 2. On November 1, 2020, Services Revenue was credited for $2,050 that was paid by a client for audit services to be performed in January. 3. On June 1, 2020, a cheque in the amount of $6.120 was issued for a two-year insurance policy starting on June 1, 2020. The amount was charged to Insurance Expense 4. Interest of $1,160 has accrued on notes payable