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): ( EV of S1. PV of S1. EVA of \$1, and PVA of \$1) Note: Use appropriate factor(s) from the tables provided. a. Promised to pay a fixed amount of $6,600 at the end of each year for six years and a one-time payment of $116,200 at the end of the 6 th year. b. Established a plant remodeling fund of $490,900 to be available at the end of Year 7 . A single sum that will grow to $490,900 will be deposited on January 1 of this year. c. Agreed to pay a severance package to a discharged employee. The company will pay $75,600 at the end of the first year, $113,100 at the end of the second year, and $150,600 at the end of the third year d. Purchased a $173,000 machine on January 1 of this year for $34,600 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. 4-. In transaction (d), what is the amount of each of the equal annual payments that will be paid on the note? 4-b. What is the total amount of interest expense that will be incurred? Complete this question by enterif your answers in the tabs below. In transaction (d), what is the amount of each of the equal annual payments that will be paid on the note? Note: Round your answer to nearest whole dollar. 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): ( EV of \$1. PV of \$1. EVA of \$1, and PYA of S1) Note: Use oppropriate factor(s) from the tobles provided. a. Promised to pay a fored amount of $6,600 at the end of each year for six years and a one-time payment of $116,200 at the end of the 6 th year: b. Established a plant remodeling fund of $490,900 to be available at the end of Year 7 . A single sum that will grow to $490,900 will be deposited on January 1 of this year. c. Agreed to pay a severance package to a discharged employee. The company will pay $75,600 at the end of the first year, $113,100 at the end of the second year, and $150,600 at the end of the third year. d. Purchased a $173.000 machine on January 1 of this year for $34,600cash. A five-year note is sigried for the balance. The note will be paid in five equal year-end payments starting on December 31 of this year. 4-a. In transaction (d). What is the amount of each of the equal annual payments that will be paid on the note? 4-b. What is the total amount of interest expense that will be incurred? Complete this question by entering your answers in the tabs below. What is the totai amount of interest expense that will be incurred? Notes Round your intermediate calculations and final answer to nearest whole dollar
