On January $1$ of this year, Skamania Company completed the following transactions $($assume a $9\%$ annual interest rate$)$: $(FV$ of $$1,PV$ of Required:

a$.$ What is the cost of the truck that should be recorded at the time of purchase?

b$.$ Which option for the office building results in the lowest present value?

c$.$ What single amount must be deposited in this account on January $1$ of this year?

d$.$ What single sum must be deposited in the bank on January $1$ of this year?

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

What single sum must be deposited in the bank on January $1$ of this year? $($Round your answer to nearest whole dollar.$)$

$$1,$ FVA of $$1,$ and PVA of $$1)$

Note: Use the appropriate factor$($s$)$ from the tables provided.

a$.$ Bought a delivery truck and agreed to pay $$60,700$ at the end of three years.

b$.$ Rented an office building and was given the option of paying $$10,700$ at the end of each of the next three years or paying

$$28,700$ immediately.

c$.$ Established a savings account by depositing a single amount that will increase to $$91,400$ at the end of seven years.

d$.$ Decided to deposit a single sum in the bank that will provide $9$ equal annual year$-$end payments of $$40,700$ to a retired

employee $($payments starting December $31$ of this year$).$

Required:

a$.$ What is the cost of the truck that should be recorded at the time of purchase?

b$.$ Which option for the office building results in the lowest present value?

c$.$ What single amount must be deposited in this account on January $1$ of this year?

d$.$ What single sum must be deposited in the bank on January $1$ of this year?

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Required $b$

What single amount must be deposited in this account on January $1$ of this year? $($Round your answer to nearest whole

dollar.$)$

Amount to deposit

$$,53,330$