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Skysong Corporation bought a new machine and agreed to pay for it in equal annual installments of $4,520at the end of each of the next10years.

Skysong Corporation bought a new machine and agreed to pay for it in equal annual installments of $4,520at the end of each of the next10years. Assuming that a prevailing interest rate of8% applies to this contract, how much should Skysong record as the cost of the machine?

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