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Wildhorse Co. issued $1,200,000, 13-year bonds and agreed to make annual sinking fund deposits of $77,500. The deposits are made at the end of each
Wildhorse Co. issued $1,200,000, 13-year bonds and agreed to make annual sinking fund deposits of $77,500. The deposits are made at the end of each year into an account paying 4% annual interest.
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(For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount will be in the sinking fund at the end of 13 years? (Round answer to 2 decimal places, e.g. 25.25.)
**Amount in the sinking fund $_____________
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