Branson Inc. has sold product to the Brandywine Company, a major customer, for $31,000. As a courtesy to Brandywine, Branson has agreed to take a note due in two years for half of the amount due.

1. What is the effective price of the transaction to Branson if the interest rate is:
   1. 6%. Round the answer to the nearest whole dollar. Round PVF values in intermediate calculations to four decimal places. Do not round other intermediate calculations. $ fill in the blank 1
   2. 8%. Round the answer to the nearest whole dollar. Round PVF values in intermediate calculations to four decimal places. Do not round other intermediate calculations. $ fill in the blank 2
   3. 10%. Round the answer to the nearest whole dollar. Round PVF values in intermediate calculations to four decimal places. Do not round other intermediate calculations. $ fill in the blank 3
   4. 12%. Round the answer to the nearest whole dollar. Round PVF values in intermediate calculations to four decimal places. Do not round other intermediate calculations. $ fill in the blank 4