On January 1, 2016, Rubio acquired equipment by issuing an $80,000, 2 percent (low-interest bearing), 5 year note, with interest paid annually, starting December 31, 2016.

1. Calculate the cash equivalent price of the equipment (assuming 6% is the market rate).

The answer is $1,600 * 4.212364 + $80,000 * 0.747258 = 66520

I just dont understand where the 0.747258 comes from or how to get it so if you could help me with that I would appreciate it.