AP9-10 (Algo) Computing Present Values L09-7, 9-8 On Jenuary 1, Ellsworth Corpany completed the following trensactions (Use en 8% annual interest rate for all transactions): (EV of \$1, PV of \$1, FVA of \$1 and PVA of \$1) Note: Use appropriate factor(s) from the tables provided. e. Borrowed $2,050,000 to be repald In flve years. Agreed to pay a flxed amount of $151,000 et the end of each year for five years and a one-time payment of $2,050,000 at the end of the 5 th year. b. Established a plant remodelling fund of $1,100,000 to be avalleble at the end of Year 10. A single sum that will grow to $1,100,000 will be deposited on January 1 of this year. c. Purchased a \$752,000 machine on January 1 of this year and paid cash, \$401,000. A four-year note is signed for the balence. The note will be paid in four equal year-end payments starting on Decertber 31 of this year. Required: 1. In transaction (a), determine the present value of the debt. 2-a. In transaction ( b, what single amount must the company deposit on January 1 of this year? 2-b. In transaction ( 6 ), what is the total amount of interest revenue that will be earned? 3-a. In transaction ( c, what is the arount of esch of the equal annual poyments that will be paid on the note? 3-b. In transaction (c), what is the total amount of interest expense that will be incurred? Complete this question by entering your answers in the tabs below. In transactian (a), determine the presant value of the debt. Note: Round your intermediate calculations and final answer to nearest whole dollar. Complete this question by entering your answers in the tabs below. In transaction (b), what single amount must the company deposit on January 1 of this year? Note: Round your answer to nearest whole dollar. Complete this question by entering your answers in the tabs below. In transaction (b), what is the total amount of interest revenue that will be earned? Note: Round your intermediate calculations and final answer to nearest whole dollar. Complete this question by entering your answers in the tabs below. In transaction (c), what is the amount of each of the equal annual payments that will be paid on the note? Note: Round your answer to nearest whole dollar. Complete this question by entering your answers in the tabs below. In transaction (c), what is the total amount of interest expense that will be incurred? Note: Round your intermediate calculations and final answer to nearest whole dollar