The entry to record the purchase of equipment that requires a $10,000 payment in 2 years includes a ______. The market rate of interest is 9% compounded annually. (Check all that apply.)

Please show work, I'm not sure how to calculate these numbers!

The market rate of interest is 9% The entry to record the purchase of equipment that requires a $10,000 payment in 2 years includes a compounded annually. (Check all that apply.) $10,000 credit to Notes Payable Reason: The present value (or current cost) of the notes payable is $8,417=$10,000 x 0.8417. $10,000 debit to Equipment Reason: The present value (or current cost) of the equipment is $8,417=$10,000 x 0.8417. $17,591 credit to Notes Payable Reason: The present value (or current cost) of the notes payable is $8,417=$10,000 x 0.8417. $8,417 debit to Equipment $17,591 debit to Equipment Reason: The present value (or current cost) of the equipment is 0,000 x 0.8417. $8,417 credit to Notes Payable Correct Answer $8,417 debit to Equipment $8,417 credit to Notes Payable