FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bangin Inc. financed the purchase of a machine by making ten annual payments of $13,000 with the first payment due today. The purchase cost of

image text in transcribed

Bangin Inc. financed the purchase of a machine by making ten annual payments of $13,000 with the first payment due today. The purchase cost of the machine is considered to be the present value of those payments. What was the purchase cost of the machine to Bangin assuming a discount rate of 9%? O A. $90,938 OB. $83,429 OC. $59,633 O D. $75,467

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Beginners

Accounting For Beginners

Authors: Kokab Rahman

1st Edition

149479294X, 978-1494792947

More Books

Students also viewed these Accounting questions

Question

★★★★★
Compute azimuths of all lines for a closed traverse ABCDEFA that has the following balanced angles to the right, using the directions listed in following Problem. FAB = 118o 26' 59'' ABC = 123 o 20'...

Answered: 1 week ago

Question

★★★★★
Esmail Mohebbi, owner of European Ignitions Manufacturing, needs to expand his capacity. He is considering three locationsAthens, Brussels, and Lisbonfor a new plant. The company wishes to find the...

Answered: 1 week ago

Question

★★★★★
2.54 TV Viewers The number of television viewing hours per household and the prime viewing times are two factors that affect television advertising income. A random sample of 25 house- holds in a...

Answered: 1 week ago

Question

★★★★★
Cash budgetcomprehensive Following are the budgeted income statements for the second quarter of 2013 for SeaTech, Inc.: * Includes all product costs (i.e., direct materials, direct labor, and...

Answered: 1 week ago

Question

★★★★★
Cost allocation is a general term that refers to identifying accumulated costs with, or tracing accumulated costs to, cost objects such as departments, activities or products. Explain the following...

Answered: 1 week ago

Question

★★★★★
An article describes several studies of the failure rate of defibrillators used in the treatment of heart problems. In one study conducted by the Mayo Clinic, it was reported that failures were...

Answered: 1 week ago

Question

★★★★★
Answer the following grade 12 physics questions.1. An archer shoots an arrow at 120 m/s at an angle of 45.0 above the horizontal. Which statement is correct?- The magnitude of the vertical component...

Answered: 1 week ago

Question

★★★★★
A horizontal beam of length L is supported at each end (x = 0 and x = L), as shown below. Suppose an external vertical force F is applied to the beam at location a, where a is measured from the left...

Answered: 1 week ago

Question

★★★★★
2. Select a major decision of a company/organization you have worked for (e.g., new process, new product, new facility, etc) or research a major private decision (e.g., Deep Water Horizon, iPhone,...

Answered: 1 week ago

Question

★★★★★
Q21 (EC). 16.10. A test for extrasensory perception (ESP) involves asking a person to tell which of 5 shapes-a circle, star, triangle, diamond, or heart-appears on a hidden com- puter screen. On each...

Answered: 1 week ago

Question

★★★★★
Comprehensive Problem Hersheys Big Bang ERP Halloween is the biggest candy season of them all, with $1.8 billion in sales. For Hersheys, Halloween 1999 was the scariest of all time. Hersheys had...

Answered: 1 week ago

Question

★★★★★
What resources will these tactics require?

Answered: 1 week ago

Question

★★★★★
What level of impact will this tactic make on the key public?

Answered: 1 week ago

Question

★★★★★
Have you used powerful language in your message?

Answered: 1 week ago

Previous Question Next Question