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Help Please Required information [The following information applies to the questions displayed below.) Marshall Corporation purchased equipment and in exchange signed a three-year promissory note.
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Required information [The following information applies to the questions displayed below.) Marshall Corporation purchased equipment and in exchange signed a three-year promissory note. The note requires Marshall to make equal annual payments of $20,000 at the end of each of the next three years. Marshall has other promissory notes that charge interest at the annual rate of 6 percent. Required: 1. Compute the present value of the note, using Marshall's typical interest rate of 6 percent. (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1) (Use appropriate factor(s) from the tables provided. Round "Present Value" to the nearest whole dollar amount.) Table or Calculator Function: Annuity Payment: n= Present Value Step by Step Solution
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