Required information

$[$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 $$6,100$ at the end of each year for eight years and a one$-$time payment of

$$115,200$ at the end of the $8$ th year.

b$.$ Established a plant remodeling fund of $$490,150$ to be available at the end of Year $9.$ A single sum that will grow to

$$490,150$ will be deposited on January $1$ of this year.

c$.$ Agreed to pay a severance package to a discharged employee. The company will pay $$75,100$ at the end of the first

year, $$112,600$ at the end of the second year, and $$150,100$ at the end of the third year.

d$.$ Purchased a $$170,500$ machine on January $1$ of this year for $$34,100$ 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.

$2-$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?