Type of Table Future Value of $1 Future Value of $1 Future Value of $1 Present Value of $1 Present Value of $1 Present Value of $1 Present Value of Annuity of $1 in Arrears Present Value of Annuity of $1 in Arrears Present Value of Annuity of $1 in Arrears Future Value of Annuity of $1 in Arrears Future Value of Annuity of $1 in Arrears Future Value of Annuity of $1 in Arrears Number of Periods 3 6 12 3 12 12 3 3 12 3 3 12 Interest Rate 88 44 2 84 84 2 8% 29 2% 8% & & Factor 1.25971 1.26532 1.26842 0.79383 0.39711 0.78849 2.57710 2.88388 10.57534 3.24640 3.06840 13.41209 24 A non interest-bearing note that pays $5,000 three years from today is issued in exchange for used equipment. Which of the following amounts would be recorded as the acquisitio value of the equipment, the amount the note is worth today if the discount rate appropriate for such notes is 8% per annum? Multiple Choice $6,299 $3,942 None of the other alternatives are correct $3.969