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Cullumber Company issued $1,160,000,11-year bonds. It agreed to make annual deposits of $93,000 to a fund (called a sinking fund). which will be used to

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Cullumber Company issued $1,160,000,11-year bonds. It agreed to make annual deposits of $93,000 to a fund (called a sinking fund). which will be used to pay off the principal amount of the bond at the end of 11 years. The deposits are made at the end of each year into an account paying 9% annual interest. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount will be in the sinking fund at the end of 11 years? (Round answer to 2 decimal places, e.g. 25.75.) Amount in the sinking fund $ Ivanhoe Company is considering an investment that will return a lump sum of $920,0003 years from now. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Ivanhoe Company pay for this investment to earn an 11% return? (Round answer to 2 decimal places, e.g. 25.25.) Lincoln Company should pay

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