[The following information applies to the questions displayed below.] On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for all transactions): (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)

Borrowed $115,600 for nine years. Will pay $6,300 interest at the end of each year and repay the $115,600 at the end of the 9th year.

Established a plant remodeling fund of $490,450 to be available at the end of Year 10. A single sum that will grow to $490,450 will be deposited on January 1 of this year.

Agreed to pay a severance package to a discharged employee. The company will pay $75,300 at the end of the first year, $112,800 at the end of the second year, and $150,300 at the end of the third year.

Purchased a $171,500 machine on January 1 of this year for $34,300 cash. A five-year note is signed for the balance. The note will be paid in five equal year-end payments starting on December 31 of this year.

P9-11 Computing Present Values LO9-7, 9-8 The following information applies to the questions displayed below. On provided.) January 1 Boston Company completed the following transactions use a 7% annual interest rate for all transactions 0 0 0 and 0 Use the appropriate factor from the at a. Borrowed $115,600 for nine years. Will pay $6,300 interest at the end of each year and repay the $115,600 at the end of the 9th year. b. Established a plant remodeling fund of $490,450 to be available at the end of Year 10. A single sum that will grow to $490.450 will be deposited on January 1 of this year c. Agreed to pay a severance package to a discharged employee. The company will pay $75,300 at the end of the first year, $112,800 at the end of the second year, and $150,300 at the end of the third year. dl. Purchased a $171,500 machine on January 1 of this year for $34,300 cash. A five-year note is signed for the balance. The note will be paid in five equal year-end payments starting on December 31 of this year. References Section Break P9-11 Computing Present Values LO9-7, 9-8 4. Required information 5.00 points P9-11 Part 1 Required: 1. In transaction (a), determine the present value of the debt. (Round your answer to nearest whole dollar.) esent value