Your firm intends to finance the purchase of a new construction crane. The cost is $1,500,000. How
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Your firm intends to finance the purchase of a new construction crane. The cost is $1,500,000. How large is the payment at the end of Year 10 if the crane is financed at a rate of 8.50% as a discount loan?
| A. $228,611.56 |
| B. $127,500 |
| C. $3,391,475.16 |
| D. There is not enough information to answer this question. |
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