The following information applies to the questions displayed below.J On January 1, Boston Company completed the following transactions use a 7% annual interest rate for all transactions). E factor(s) from the tables provided.) of$. P of$1. E and P use the appropriate a. Borrowed $118,200 for seven years. Will pay $7,600 interest at the end of each year and repay the $118,200 at the end of the 7th year. b. Established a plant remodeling fund of $492,400 to be available at the end of Year 8. A single sum that will grow to $492,400 will be deposited on January 1 of this year. c Agreed to pay a severance package to a discharged employee. The company will pay $76,600 at the end of the first year, $114,100 at the end of the second year, and $151,600 at the end of the third year. d. Purchased a $178,000 machine on January 1 of this year for $35,600 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. 2-a. In transaction (b), what single sum amount must the company deposit on January 1 of this year? (Round your answer to nearest whole dollar.) Amo unt to deposit 2-b. What is the total amount of interest revenue that will be eamed? (Round your answer to nearest whole dollar.) Interest revenue P9-11 Part 3 3. In transaction (c), determine the present value of this obligation Present value 4-a. In transaction (a), what is the amount of each of the equal annual payments that will be paid on the note? nnual payments 4-b. What is the total amount of interest expense that will be incurred? Interest expense