On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for all transactions): (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)

Borrowed $116,200 for six years. Will pay $6,600 interest at the end of each year and repay the $116,200 at the end of the 6th year.

Established a plant remodeling fund of $490,900 to be available at the end of Year 7. A single sum that will grow to $490,900 will be deposited on January 1 of this year.

Agreed to pay a severance package to a discharged employee. The company will pay $75,600 at the end of the first year, $113,100 at the end of the second year, and $150,600 at the end of the third year.

Purchased a $173,000 machine on January 1 of this year for $34,600 cash. A five-year note is signed for the balance. The note will be paid in five equal year-end payments starting on December 31 of this year.

a) 1. In transaction (a), determine the present value of the debt. (Round your answer to nearest whole dollar.)

b) 2-a. In transaction (b), what single sum amount must the company deposit on January 1 of this year? (Round your answer to nearest whole dollar.)

2-b. What is the total amount of interest revenue that will be earned? (Round your answer to nearest whole dollar.)

c) 3. In transaction (c), determine the present value of this obligation.

d) 4-a. In transaction (d), what is the amount of each of the equal annual payments that will be paid on the note?

4-b. What is the total amount of interest expense that will be incurred?