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Potter Corporation is contemplating the purchase of a new piece of equipment with a purchase price of $500,000. It plans to make a 10% down

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Potter Corporation is contemplating the purchase of a new piece of equipment with a purchase price of $500,000. It plans to make a 10% down payment and will receive a loan for 25 years at 10% interest. The annual payment required on the loan will be A. $55, 084 B. $49, 576 C. $45,000 D. $18,000

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