Use the following12% 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 $19500each beginning December 31, 2021? The applicable interest rate is12%.

$136500

$103901

$239844

$96869