Exercise 6-11 (Part Level Submission)

Buffalo Excavating Inc. is purchasing a bulldozer. The equipment has a price of $92,800. The manufacturer has offered a payment plan that would allow Buffalo to make 6 equal annual payments of $20,074.07, with the first payment due one year after the purchase. Collapse question part (a) How much total interest will Buffalo pay on this payment plan? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Total interest $__________