On September 1, 2020, Sandhill Ltd. purchased equipment for $39,900 by signing a two-year note payable with a face value of $39,900 due on September 1, 2022. The going rate of interest for this level of risk was 9%. The company has a December 31 year end. (The tables in this problem are to be used as a reference for this problem.)

Calculate the cost of the equipment, where necessary using any of the three methods (tables, financial calculator, or Excel), assuming the note is as follows: (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275.)

1.		An 9% interest-bearing note, with interest due each September 1.
2.		A 2% interest-bearing note, with interest due each September 1.
3.		A noninterest-bearing note.

				Cost of the Equipment
1.		An 9% interest-bearing note		$
2.		A 2% interest-bearing note		$
3.		A noninterest-bearing note		$