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Buffalo Corporation, having recently issued a $20,103,400, 15-year bond issue, is committed to make annual sinking fund deposits of $612,700. The deposits are made on

Buffalo Corporation, having recently issued a $20,103,400, 15-year bond issue, is committed to make annual sinking fund deposits of $612,700. The deposits are made on the last day of each year and yield a return of 10%.

Future value of an ordinary annuity ?

Determine the amount of deficiency ?

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