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Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $13,500 not due for three

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Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $13,500 not due for three years. The interest rate on the note is 6%. (FV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Step 1: Calculate the PV of the Ordinary Annuity Component: Payment Prosent Value: Step 2: Convert the Annuity to a singlo Sum: Payment: n Present Value

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