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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

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 or interest rate used to calculate present value is 8%. What amount will be assigned to the equipment?

Table numbers: The present value of $1 for six periods at 8% is 0.630. The present value of an ordinary annuity of $1 for six periods at 8% is 4.623.

A.$3,894

B.$11,340

C.$83,214

D.$94,554

E.$108,000

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