MC Qu. 90 A company purchased equipment...

A company purchased equipment and signed a 6-year installment loan at 8% annual interest. The annual payments equal $9,500. The present value of an annuity factor for 6 years at 8% is 4.6229. The present value of a single sum factor for 6 years at 8% is .6302. The present value of the loan is:

Multiple Choice:

$9,500.

$5,987.

$15,075.

$57,000.

$43,918.