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Ivanhoe Company issued $1, 900,000, 14-years bonds and agreed to make annual sinking fund deposits of $70, 900. The deposits are made at the end
Ivanhoe Company issued $1, 900,000, 14-years bonds and agreed to make annual sinking fund deposits of $70, 900. The deposits are made at the end of each year into an account paying 8% annual interest. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) what amount will be in the sinking fund at the end of 14 years (Round answer to 2 decimal places, e.g. 25.75.) Amount in the sinking fund $_________
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