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Present and future value tables of $1 at 11% are presented below. PV of $1 FV of $1 PVA of $1 FVA of $1 10.90090

Present and future value tables of $1 at 11% are presented below. PV of $1 FV of $1 PVA of $1 FVA of $1 10.90090 1.11000 0.90090 1.0000 2 0.81162 1.23210 1.71252 2.1100 30.73119 1.36763 2.44371 3.3421 4 0.65873 1.51807 3.10245 4.7097 5 0.59345 1.68506 3.69590 6.2278 6 0.53464 1.87041 4.23054 7.9129 On October 1, 2021, Justine Company purchased equipment from Napa Inc. in exchange for a noninterest-bearing note payable in five equal annual payments of $520,000, beginning Oct 1, 2022. Similar borrowings have carried an 11% interest rate. The equipment would be recorded at

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