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PLEASE HELPPPPPPPP Buffalo Ltd., an equipment manufacturer, sold and delivered a piece of equipment to a buyer for $104,000, with 50% payable in one year
PLEASE HELPPPPPPPP
Buffalo Ltd., an equipment manufacturer, sold and delivered a piece of equipment to a buyer for $104,000, with 50% payable in one year and the remaining 50% payable in two years from the date of sale. Buffalo estimates that the interest rate for a similar financing arrangement would be 12%. Calculate the amount of revenue that Buffalo should recognize on the date of sale.(Round discount factor to 5 decimals and final answer to 2 decimal places, e.g. 5,275.25.)
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