1. Your best friend Pasquale just purchased a used car.He has entered into a five year agreement where he will pay $6,000 at the end of each year.If the discount rate is 6%, how much did Pasquale pay for the car?

2)Mylex has current assets of $95, net fixed assets of $250, long-term debt of $45, and owners' equity of $200, what is the value of current liabilities if that is the only other item on the statement of financial position?