Cooper Company has purchased equipment that requires annual payments of $18,000 to be paid at the end of each of the next 6 years. The discount rate is 14%. The present value of $1 for six periods at 14% is 0.456. The present value of an ordinary annuity of $1 for six periods at 14% is 3.889. What amount will be assigned to the equipment at the purchase date? (Round your final answer to the nearest dollar.) O A. $4,628 O B. $70,002 O C. $78,210 O D. $8,208 Burkert Company has 50,000 shares of $1 par value common stock issued and outstanding. The company also has 7,000 shares of $100 par value, 6% cumulative preferred stock outstanding. Burkert did not pay the preferred dividends in 2018 and 2019. For the common stockholders to receive a dividend in 2020, the board of directors must declare dividends in excess of: O A. $168,000 O B. $42,000. O C. $126,000 OD. $84,000. Mariano Corporation sells 11,000 units of inventory during the first year of operations for $500 each. Mariano provides a one-year warranty on parts. It is estimated that 5% of the units will be defective and that repair costs are estimated to be $50 per unit. In the year of sale, warranty contracts are honored on 60 units for a total cost of $3,000. What amount will be reported as Estimated Warranty Liability at the end of the year? O A. $27,500 OB. $24,500 OC. $3,000 OD. $7,500 Potential liabilities that depend on future events arising out of past events are called: O A. contingent liabilities. O B . current liabilities. O c. estimated liabilities. OD. long-term liabilities. Land is purchased for $600,000. Back taxes paid by the purchaser were $7,600; total costs to demolish an existing building were $10,000 and the cost to clear the land was $16,000. The cost of paving the parking lot was $8,200. The cost of land is and the cost of land improvements O A. $617,600; $24,200 OB. $633,600; $8,200 O C. $634, 200; $7,600 OD. $641,800; $0