On January 1, 2020, Teal Corporation sold a building that cost $257,510and that had accumulated depreciation of $102,150on the date of sale. Teal received as consideration a $247,510non-interest-bearing note due on January 1, 2023. There was no established exchange price for the building, and the note had no ready market. The prevailing rate of interest for a note of this type on January 1, 2020, was11%. At what amount should the gain from the sale of the building be reported? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

The amount of gain should be reported

$

enter a dollar amount of gain should be reported

On January 1, 2020, Teal Corporation purchased325of the $1,000face value,11%,10-year bonds of Walters Inc. The bonds mature on January 1, 2030, and pay interest annually beginning January 1, 2021. Teal purchased the bonds to yield11%. How much did Teal pay for the bonds? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Teal must pay for the bonds

$

enter a dollar amount should be paid for the bonds

Teal Corporation bought a new machine and agreed to pay for it in equal annual installments of $4,800at the end of each of the next10years. Assuming that a prevailing interest rate of8% applies to this contract, how much should Teal record as the cost of the machine? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Cost of the machine to be recorded

$

enter cost of the machine to be recorded in dollars

Teal Corporation purchased a special tractor on December 31, 2020. The purchase agreement stipulated that Teal should pay $21,960at the time of purchase and $5,430at the end of each of the next8years. The tractor should be recorded on December 31, 2020, at what amount, assuming an appropriate interest rate of12%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Cost of tractor to be recorded

$

enter cost of tractor to be recorded in dollars

Teal Corporation wants to withdraw $126,920(including principal) from an investment fund at the end of each year for9years. What should be the required initial investment at the beginning of the first year if the fund earns11%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Required initial investment

$

enter the required initial investment in dollars