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Your goal is to be able to withdraw $10,000 for each of the next three years beginning one year from today and also to withdraw

Your goal is to be able to withdraw $10,000 for each of the next three years beginning one year from today and also to withdraw $50,000 four years from today. The return on the investment is expected to be 3%. The amount that needs to be invested today is closest to:

$72,711.

$110,383.

$89,755.

$65,238.

Monster Inc. recently purchased an equipment. The price negotiated with the seller was $20,000. Aqua also paid sales tax of $2,000 on the purchase, maintenance contracts of $2,200 to cover ordinary repairs for the first year of operation, and shipping and preparation costs of $500. At what amount should the equipment be recorded on the balance sheet prior to recording depreciation expense?

26,800

24,700

22,500

22,000

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