MC Qu. 88 A company borrowed cash from the...

A company borrowed cash from the bank by signing a 3-year, 10% installment note. The present value of an annuity factor at 10% for 3 years is 2.4869. The present value of a single sum at 10% for 3 years is .7513. Each annual payment equals $76,800. The present value of the note is:

Multiple Choice:

$92,645.46.

$30,881.82.

$230,400.00

$190,993.92.

$102,222.81.