The following information applles to the questions displayed below On January 1, Boston Company completed the following transactions use a 7% annual interest rate or all transactions provided.) g 0 0 and 0 ) Use the appropriate factor s etables om a. Borrowed $117,800 for six years. Will pay $7,400 interest at the end of each year and repay the $117,800 at the end of the 6th year. b. Established a plant remodeling fund of $492100 to be available at the end of Year 7. A single sum that will grow to $492,100 will be deposited on January 1 of this year c. Agreed to pay a severance package to a discharged employee. The company will pay $76,400 at the end of the first year, $113,900 at the end of the second year, and $151,400 at the end of the third year. d. Purchased a $177,000 machine on January 1 of this year for $35,400 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 value: Required information 15.00 points P9-11 Part 1 Required: 1. In transaction (a), determine the present value of the debt. (Round your answer to nearest whole dollar.) t value 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.) 2-b. What is the total amount of interest revenue that will be eaned? (Round your answer to nearest whole dollar.) References eBook & Resources Worksheet P9-11 Part 2 3. In transaction (c), determine the present value of this obligation. t value References eBook&Resources Worksheet P9-11 Part 3 5.15.00 points value: P9-11 Part 4 4-a. In transaction (d), what is the amount of each of the equal annual payments that will be paid on the note? payments 4-b. What is the total amount of interest expense that will be incurred? t expens