On January 1, 2020, the Agora Company purchased a machine by signing a note to lake a one-time payment of $50,000 at the end of four years (on December 31, 2023). Assume a compound interest rate of 12% Period Present Value of $1 at 12% Present Value of $1 Annuity at 12% 1 0.89 2 0.80 0.89 3 0.71 0.64 1.69 4 On January 1, 2020, this machine should be recorded at a cost of: Round all numbers to the nearest dollar 2.40 3.04 a $50,000 6.532.000 Oc556.000 04.50