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Blossom Co. issued for cash a $95000,3-year note bearing interest at 6% to Sheridan, Inc. The market rate of interest for a note of similar
Blossom Co. issued for cash a $95000,3-year note bearing interest at 6% to Sheridan, Inc. The market rate of interest for a note of similar risk is 8%. One step in calculating the cash received from the issuance of the note is to multiply the face value by the table value for 3 periods and 6% from the present value of an ordinary annuity table. 3 periods and 8% from the present value of an ordinary annuity table. 3 periods and 6% from the present value of 1 table. 3 periods and 8% from the present value of 1 table
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