What is the cost of the machine to be recorded at acquisition date? and the entry at the acquisition date

Assume that there is no known cash price for the machine The rate of interest prevailing at that time for similar obligations is 12% What is the cost of the machine? and the journal entry . the present value is 194,607.90

On October 1, 2015, Chang Corporation acquired a machine priced at P720,000. Payment of this amount may be made within 60 days a 10% discount is allowed if cash is paid at the time of purchase. A contract is signed whereby a down payment of P150,000 is made with payments of P25,000 to be made a monthly intervals thereafter for the next 24 months REQUIRED: la) What is the cost of the machine to be recorded at acquisition date? (6) Assume that there is no our cash price for the machine. The rate of interest prevailing at that time for similar obligations 12% What is the cost of the machine? Use the present value factor provided in the Appendix