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Blossom, Inc. manufactures machinery used in the mining industry. On January 2, 2021 tleased equipment with a cost of $580000 to Silver Point Co. The

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Blossom, Inc. manufactures machinery used in the mining industry. On January 2, 2021 tleased equipment with a cost of $580000 to Silver Point Co. The 5-year lease calls for a 20% down payment and equal annual payments at the end of each year. The equipment has an expected useful life of 5 years. If the selling price of the equipment is $880000, and the rate implicit in the case is 9%, what are the equal annual payments? PV Annuity Due PV Ordinary Anouity PV Single Sum 4.23972 3.88965 0.64993 996,5 periods 11%,5 periods 4.10245 3,69590 0.59345 $180993 O $166049 O $190481 $226241

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