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Rusty Corporation purchased a rust-inhibiting machine by paying $51,500 cash on the purchase date and agreeing to pay $10,300 every three months during the next
Rusty Corporation purchased a rust-inhibiting machine by paying $51,500 cash on the purchase date and agreeing to pay $10,300 every three months during the next two years. The first payment is due three months after the purchase date. Rusty's incremental borrowing rate is 12%. The machine reported on the balance sheet as of the purchase date is closest to A) 133,900 B) 82,400 C) 123,803 D) 72,303 |
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