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What is the step by step process to solving this problem? Strong Company acquired land. Strong pays $750,000 immediately and promises to pay an additional

What is the step by step process to solving this problem?

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Strong Company acquired land. Strong pays $750,000 immediately and promises to pay an additional $1,000,000 in two years. An interest rate of 8% reflects the time value of money for this type of loan agreement. For how should Strong value the note payable of $1,000,000? Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1,PVA of $1, FVAD of $1 and PVAD of $1 ) Multiple Choice $714,678 $857,340 $912,385 $1,000,000

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