On January $1,$ Pronghorn Corporation issues a $$180,000,10-$year non$-$interest$-$bearing note to Camden Production for new machinery. The market interest rate is $9$ and Camden is to pay $$18,000$ as an instalments at the end of each year for purchase of the new machinery in cash is not available from the supplier at this time.

Click here to view Table A$\mathrm{.}4-$ PRESENT VALUE OF AN ORDINARY ANNUITY OF $1$

$($a$)$

Calculate the purchase price using any of the three methods $($tables$,$ financial calculator, or Excel$).($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.5,275.)$

Purchase price

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