On January 1, 2021, the Montgomery Company agreed to purchase a building by making six payments. The first three are to be $37,000 each, and will be paid on December 31, 2021 2022, and 2023. The last three are to be $52,000 each and will be paid on December 31, 2024 2025, and 2026. Montgomery borrowed other money at a 11% annual rate (FV of $1, PV of $1. EVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. At what amount should Montgomery record the note payable and corresponding cost of the building on January 1, 2021? 2. How much interest expense on this note will Montgomery recognize in 2021? (For all requirements, Round your final answers to nearest whole dollar amount.) 1. Amount recorded 2. Interest expense Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2021. Payment was made in the form of a noninterest-bearing note requiring Lincoln to make six annual payments of $7.400 on each September 30, beginning on September 30,2024 (EV of S1. PV of $1. EVA of $1. PVA of $1 EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to nearest whole dollar amount.) Required: Calculate the amount at which Lincoln should record the note payable and corresponding purchases on September 30, 2021, assuming that an interest rate of 12% properly reflects the time value of money in this situation Amount recorded Determine the present value of the following single amounts (FV of $1. PV of $1. FVA of $1. PVA of $1. EVAD of $1 and PVAD of $1] (Use appropriate factor(s) from the tables provided. Round your final answers to nearest whole dollar amount.) Future Amount Present Value 1. S 32,000 5% 11 2 $ 26,000 8% 37,000 11% $ 52000 13 19 40 $ 3. 4. 10% Determine the future value of $18.000 under each of the following sets of assumptions (FV of $1. PV of S1, FVA of S1, PVA of S1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answers to nearest whole dollar amount.) Future Value 1 2 3 Annual Rate 12% 8% 24% Period invested 9 years 3 years 10 months Interest Compounded Semiannually Quarterly Monthly Present Value 18.000 $ 18,000 $ 18,000