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Lucky Ltd. sells an asset with a $1 million fair value to Sorry Inc. Sorry agrees to make 6 equal payments, one year apart, commencing

Lucky Ltd. sells an asset with a $1 million fair value to Sorry Inc. Sorry agrees to make 6 equal payments, one year apart, commencing on the date of sale. The payments include principal and 6% annual interest. Compute the annual payments.

The answer is $191,852.

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