P9-10 (Algo) Computing Present Values L09-7, 9-8 [The following information applies to the questions displayed below.] 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) Note: Use appropriate factor(s) from the tables provided. a. Promised to pay a fixed amount of $7,600 at the end of each year for seven years and a one-time payment of $118,200 at the end of the 7 th year. b. Established a plant remodeling fund of $492,400 to be available at the end of Year 8 . A single sum that will grow to $492,400 will be deposited on January 1 of this year. c. Agreed to pay a severance package to a discharged employee. The company will pay $76,600 at the end of the first year, $114,100 at the end of the second year, and $151,600 at the end of the third year. d. Purchased a $178,000 machine on January 1 of this year for $35,600 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. P9-10 Part 2 2-a. In transaction (b), what single sum amount must the company deposit on January 1 of this year? 2-b. What is the total amount of interest revenue that will be earned