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On january 1, 2020 abc corporation bought land for 35,000,000. The corporation paid 3,000,000 as down payment and assigned a non interest bearing note for
On january 1, 2020 abc corporation bought land for 35,000,000. The corporation paid 3,000,000 as down payment and assigned a non interest bearing note for the balance of eight 8 annual installments paid every year and. With first payment december 31, 2020.
Assuming the effective interest rate of 10.5%, present value of an ordinary annuity of 1 for eight periods is 5.23918789. The discount on notes payable is closest to
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11043248
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12078553
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22921447
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20956752
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