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) (Use the appropriate factor(s) from the tables provided.) a. Borrowed $117,000 for six years. Will pay $7,000 interest at the end of each year and repay the $117,000 at the end of the 6th year. b. Established a plant remodeling fund of $491,500 to be available at the end of Year 7. A single sum that will grow to $491,500 will be deposited on January 1 of this year. c. Agreed to pay a severance package to a discharged employee. The company will pay $76,000 at the end of the first year, $113,500 at the end of the second year, and $151,000 at the end of the third year. d. Purchased a $175,000 machine on January 1 of this year for $35,000 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. Required: 1. In transaction (a), determine the present value of the debt. (Round your answer to nearest whole dollar.) Present value