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On January 1, 2021, Kongguksu Co. acquired an equipment by issuing two-year, noninterest bearing note amounting to P1,000,000. The prevailing interest rate of the note
On January 1, 2021, Kongguksu Co. acquired an equipment by issuing two-year, noninterest bearing note amounting to P1,000,000. The prevailing interest rate of the note is 12%. Assuming the equipment has no cash price equivalent, how much is the cost of equipment? (Use 4-decimal places) *
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