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VC purchased a machine for use in operations at a quoted price of 35120. The full payment was the cash of 8000 plus a two-year


VC purchased a machine for use in operations at a quoted price of 35120. The full payment was the cash of 8000 plus a two-year noninterest-bearing note for 27121. The market rate of interest for this note is 8 percent VC should record the cost of the machine as rounded to the nearest dollar.

a. 31250

b. 23250

c. 32950

d. 35000

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