Use the following 8% interest factors. Present Value of Ordinary Annuity Future Value of Ordinary Annuity 7 periods 5.20637 8.9228 8 periods 5.74664 10.63663 9 periods 6.24689 12.48756 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 $15000 each beginning December 31, 2021? The applicable interest rate is 8%.