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Fishbone Corporation bought a new machine and agreed to pay for it in equal annual installments of $15,000 at the beginning of each of the

Fishbone Corporation bought a new machine and agreed to pay for it in equal annual installments of $15,000 at the beginning of each of the next 10 years. (first payment is now) Assuming that a prevailing interest rate of 4% applies to this contract, how much should Fishbone record as the cost of the machine?

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