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On January 1 of the current year, Shannon Company completed the following transactions (assume a 6 percent annual interest rate) Use Table 9C1. Table 9C.

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On January 1 of the current year, Shannon Company completed the following transactions (assume a 6 percent annual interest rate) Use Table 9C1. Table 9C. 2 (Round time value foctor to 4 decimal places. Round intermediate and final answers to the nearest whole dollar) a Bought a delivery truck and agreed to pay $70.000 at the end of three years. b. Rented an office building and was given the option of paying $12.000 at the end of each of the next three years or paying $26.000 Immediately c Established a savings account by depositing a single amount that will increase to $90,000 at the end of eight years. d Decided to deposit a single sum in the bank that will provide 10 equal annual year-end payments of $40,000 to a retired employee (payments starting December 31 of the current year). Required: 1. In (), what is the cost of the truck that should be recorded at the time of purchase? Cost of the truck 2 In (b), which option for the office building should the company select? Pay 26,000 immediately 3. In (C), what single amount must be deposited in this account on January 1 of the current year? Single amount 4. In (d). what single sum must be deposited in the bank on January 1 of the current year? Single sum

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