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Short Company purchased land by paying $17,000 cash on the purchase date and agreed to pay $17,000 for each of the next seven years beginning
Short Company purchased land by paying $17,000 cash on the purchase date and agreed to pay $17,000 for each of the next seven years beginning one-year from the purchase date. Short's incremental borrowing rate is 13%. The land reported on the balance sheet is closest to?
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