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Green Industries purchased a machine from Cyan Corporation on January 1, 2019. In payment for the $300,000 purchase, Green issued a five-year installment note to
Green Industries purchased a machine from Cyan Corporation on January 1, 2019. In payment for the $300,000 purchase, Green issued a five-year installment note to be paid in five equal payments at the end of each year. The payments include interest at the rate of 8%. Annual installment payments are closest to: Multiple Choice $67,388. 0 $75,137. $75,137. 0 $64,796 $64,796. $69,571
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