give the process of how the present value 6.1446 comes out by using the calculator, show the each step as clearly as possible.

Chapter 9. Problem 81MCQ U 6 Bookmarks Show all steps: ON Rudy Corporation is looking to purchase a building costing $500,000 by paying $100,000 cash on the purchase date, and agreeing to make annual payments for the next ten years. The first payment is due one year after the purchase date. Rudy's incremental borrowing rate is 10%. Each of the annual payments is closest to: A. $65,098 B. $86,821. C. $55,098 D. $44,000. Step-by-step solution Step 1 of 1 A A. $65,098 B. $86,821. C. $55,098 D. $44,000 The annual payment = $65,098 - amount financed divided by the present value of a 10%, 10- period ordinary annuity factor = $400,000+ 6.1446. Comments (2)