Blue Spruce Corporation manufactures ballet shoes and is in a period of sustained growth. In an effort to expand its production capacity to meet the increased demand for its products, the company recently made several acquisitions of plant and equipment. Tanya Mullinger, newly hired with the title Capital Asset Accountant, requested that Walter Kaster, Blue Spruce's controller, review the following transactions: Transaction 1 On June 1, 2020, Blue Spruce purchased equipment from Venghaus Corporation. Blue Spruce issued a \$20,000, 4-year, non-interestbearing note to Venghaus for the new equipment. Blue Spruce will pay off the note in 4 equal instalments due at the end of each of the next 4 years. At the transaction date, the prevailing market interest rate for obligations of this nature was 12%. Freight costs of $390 and installation costs of $490 were incurred in completing this transaction. The new equipment qualifies for a $1,550 government grant. On December 1, 2020, Blue Spruce purchased several assets of Haukap Shoes Inc., a small shoe manufacturer whose owner was retiring. The purchase amounted to $209,600 and included the assets in the following list. Blue Spruce engaged Tennyson Appraisal Inc., an independent appraiser, to determine the assets' fair values, which are also provided. During its fiscal year ended May 31, 2021, Blue Spruce incurred $7,850 of interest expense to finance these assets. Transaction 3 On March 1, 2021, Blue Spruce traded in four units of specialized equipment and paid an additional $24,760 cash for a technologically up-to-date machine that should do the same job as the other machines, but much more efficiently and profitably. The equipment that was traded in had a combined carrying amount of $34,510, as Blue Spruce had recorded $44,670 of accumulated depreciation against these assets. Blue Spruce's controller and the sales manager of the supplier company agreed that the new equipment had a fair value of $63,690. For each of the three transactions described above, determine the value at which Blue Spruce Corporation should record the acquired assets. For any measurement involving present value concepts, provide your calculations using any of the following: tables, Excel functions, or a financial calculator. (Do not round intermediate calculations. Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275. The tables in this problem are to be used as a reference for this problem.) Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Transaction 1: Equipment $ Transaction 2: Inventory \$ Land \$ Building $ Transaction 3: Machine $ Blue Spruce Corporation manufactures ballet shoes and is in a period of sustained growth. In an effort to expand its production capacity to meet the increased demand for its products, the company recently made several acquisitions of plant and equipment. Tanya Mullinger, newly hired with the title Capital Asset Accountant, requested that Walter Kaster, Blue Spruce's controller, review the following transactions: Transaction 1 On June 1, 2020, Blue Spruce purchased equipment from Venghaus Corporation. Blue Spruce issued a \$20,000, 4-year, non-interestbearing note to Venghaus for the new equipment. Blue Spruce will pay off the note in 4 equal instalments due at the end of each of the next 4 years. At the transaction date, the prevailing market interest rate for obligations of this nature was 12%. Freight costs of $390 and installation costs of $490 were incurred in completing this transaction. The new equipment qualifies for a $1,550 government grant. On December 1, 2020, Blue Spruce purchased several assets of Haukap Shoes Inc., a small shoe manufacturer whose owner was retiring. The purchase amounted to $209,600 and included the assets in the following list. Blue Spruce engaged Tennyson Appraisal Inc., an independent appraiser, to determine the assets' fair values, which are also provided. During its fiscal year ended May 31, 2021, Blue Spruce incurred $7,850 of interest expense to finance these assets. Transaction 3 On March 1, 2021, Blue Spruce traded in four units of specialized equipment and paid an additional $24,760 cash for a technologically up-to-date machine that should do the same job as the other machines, but much more efficiently and profitably. The equipment that was traded in had a combined carrying amount of $34,510, as Blue Spruce had recorded $44,670 of accumulated depreciation against these assets. Blue Spruce's controller and the sales manager of the supplier company agreed that the new equipment had a fair value of $63,690. For each of the three transactions described above, determine the value at which Blue Spruce Corporation should record the acquired assets. For any measurement involving present value concepts, provide your calculations using any of the following: tables, Excel functions, or a financial calculator. (Do not round intermediate calculations. Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275. The tables in this problem are to be used as a reference for this problem.) Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Transaction 1: Equipment $ Transaction 2: Inventory \$ Land \$ Building $ Transaction 3: Machine $