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Book value on jan 1 2017 = 411000 - 163000 = 248000 Present value of notes receivable = 400000 * pv, 4 years, 8% =

Book value on jan 1 2017 = 411000 - 163000 = 248000 Present value of notes receivable = 400000 * pv, 4 years, 8% = 400000 * 0.73503 = 294012 Gain on the sale of building = 294012 - 248000 = 46012 Note: PV factor has been taken to 5 decimal places How did you calculate the PV factor

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