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IFRS Multiple Choice Question 02 Sheridan Company maintains its accounting records using IFRS. The company purchases equipment with a price of $340000. The manufacturer has

IFRS Multiple Choice Question 02

Sheridan Company maintains its accounting records using IFRS. The company purchases equipment with a price of $340000. The manufacturer has offered a payment plan that would allow Sheridan to make 10 equal annual payments of $41919, with the first payment due one year after the purchase.

How much total interest will Sheridan pay on this payment plan?

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