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Sheffield Corp. financed the purchase of a machine by making payments of $25000 at the end of each of five years. The appropriate rate of

Sheffield Corp. financed the purchase of a machine by making payments of $25000 at the end of each of five years. The appropriate rate of interest was 7%. The future value of one for five periods at 7% is 1.40255. The future value of an ordinary annuity for five periods at 7% is 5.75074. The present value of an ordinary annuity for five periods at 7% is 4.10020. What was the cost of the machine to Sheffield?

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