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Pelcher Company acquires a machine by issuing a note that requires semiannual payments of $5,200 for 4 years. The interest rate on the note is

Pelcher Company acquires a machine by issuing a note that requires semiannual payments of $5,200 for 4 years. The interest rate on the note is 10% compounded semiannually. What is the cost of the machine?

A.$29,863.24

B.$33,608.64

C.$18,177.10

D.$16,467.27

E.$41,600.00

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