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Salty Frozen Yogurt purchases a new refrigeration system for $100,000 on 1/1/21. Salty pays an initial deposit of $40,000 on 1/1/21. They will pay the

  1. Salty Frozen Yogurt purchases a new refrigeration system for $100,000 on 1/1/21. Salty pays an initial deposit of $40,000 on 1/1/21. They will pay the remaining $60,000 by making equal-sized payments at the end of each year for three years $20,000 on 12/31/21, $20,000 on 12/31/22 and $20,000 on 12/31/23. If Saltys borrowing costs are 8%, they should debit the PP&E account for __________ on 1/1/21.

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