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Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2021. Payment was made in the form of a noninterest-bearing note requiring Lincoin to make

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Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2021. Payment was made in the form of a noninterest-bearing note requiring Lincoin to make six annual payments of $6,600 on each September 30 , beginning on September 30, 2024. (EV of \$1, PV of \$1. EVA of \$1. PVA of \$1. FVAD of \$1 and PVAD of \$1) (Use appropriate factor(s) from the tables provided. Round your final answer to nearest whole dollar amount.) Required: Calculate the amount at which Lincoln should record the note payable and corresponding purchases on September 30,2021 , assuming that an interest rate of 10% properly reflects the time value of money in this situation. TAinte i future Value of 51 FV=51(1+i) rABst 2 Present Value of $1 PV=nnx51 3 Future Value of an Ordinary Annuity of $1 FVA=(1+i)1 That A Present Value of an Ordinary Annuity of $1 PVA=111+021 TAEt E 5 - Future Value of an Annuity Due of $1 FVAD=[i(1+i)n1](1+i) Ante 6 Present Yalue of an Annuaty Due of $1 PVAD=[i10+gx1](1+1)

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