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on jan 1, 2019 boater company issues a 40,000 non interest bearing 5 year note for equipment. neither the fair valuee of the note nor

on jan 1, 2019 boater company issues a 40,000 non interest bearing 5 year note for equipment. neither the fair valuee of the note nor the equipment is determinable. boaters incremental borrowing rate is 7%. The asset has a useful life of 9 years

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