TB MC Qu. 5-141 (Algo) Present and future values... Present and future values of $1 at...

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TB MC Qu. 5-141 (Algo) Present and future values... Present and future values of $1 at 11% are presented below. PV of $1 FV of $1 PVA of $1 FVA of $1 1 0.90090 1.11000 0.90090 1.0000 2 0.81162 1.23210 3 0.73119 1.36763 4 0.65873 1.51807 5 0.59345 1.68506 6 0.53464 1.87041 1.71252 2.1100 2.44371 3.10245 3.69590 6.2278 4.23054 3.3421 4.7097 7.9129 On October 1, 2024, Justine Company purchased equipment from Napa Incorporated in exchange for a noninterest-bearing note payable in five equal annual payments of $590,000, beginning October 1, 2025. Similar borrowings have carried an 11% interest rate. The equipment would be recorded at: Multiple Choice $2,496,019 $2,180,581 $2,950,000 $2,625,500 TB MC Qu. 5-141 (Algo) Present and future values... Present and future values of $1 at 11% are presented below. PV of $1 FV of $1 PVA of $1 FVA of $1 1 0.90090 1.11000 0.90090 1.0000 2 0.81162 1.23210 3 0.73119 1.36763 4 0.65873 1.51807 5 0.59345 1.68506 6 0.53464 1.87041 1.71252 2.1100 2.44371 3.10245 3.69590 6.2278 4.23054 3.3421 4.7097 7.9129 On October 1, 2024, Justine Company purchased equipment from Napa Incorporated in exchange for a noninterest-bearing note payable in five equal annual payments of $590,000, beginning October 1, 2025. Similar borrowings have carried an 11% interest rate. The equipment would be recorded at: Multiple Choice $2,496,019 $2,180,581 $2,950,000 $2,625,500