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Knowledge Check 01 On January 1, Year 1, Luring Company purchased equipment and agreed to make a $10,000 cash payment on December 31, Year 5.

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Knowledge Check 01 On January 1, Year 1, Luring Company purchased equipment and agreed to make a $10,000 cash payment on December 31, Year 5. At an interest rate of 12%, how much will the company need to deposit today to make the required cash payment on December 31, Year 5? Use Table E.1. (Round your answer to 2 decimal places.) Present value

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