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Use the following 12% interest factors. Present Value of Ordinary Annuity Future Value of Ordinary Annuity 7 periods 4.56376 10.08901 8 periods 4.96764 12.29969 9

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Use the following 12% interest factors. Present Value of Ordinary Annuity Future Value of Ordinary Annuity 7 periods 4.56376 10.08901 8 periods 4.96764 12.29969 9 periods 5.32825 14.77566 What amount should be recorded as the cost of a machine purchased December 31, 2020, which is to be financed by making 8 annual payments of $17500 each beginning December 31, 2021? The applicable interest rate is 12%. $86934 $122500 $215245 O $93244

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