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Billy's Builders purchased some equipment by issuing a five-year 5% note for $15,000 when the market rate for an obligation of this nature was 7%. The interest is payable annually. Actuarial information for five periods follows: At the date of purchase, what amount should be debited to Equipment? $10, 694.79 $13, 769.94 $15,000.00 $11, 752.89