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Help Please The following information applies to the questions displayed below.) Southtown Corporation purchased equipment and in exchange signed a two-year promissory note. The note
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The following information applies to the questions displayed below.) Southtown Corporation purchased equipment and in exchange signed a two-year promissory note. The note requires Southtown to make a single payment of $100,000 in two years. Southtown has other promissory notes that charge interest at the annual rate of 6 percent. Required: 1. Compute the present value of the note, using Southtown'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.) Present Value Annuity of $1 Table or Calculator Function: Future Value: Present Value Step by Step Solution
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