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Find amount the tractor should be recorded on december

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Reference no: EM132762683

Problem 1: Skysong Corporation purchased a special tractor on December 31, 2020. The purchase agreement stipulated that Skysong should pay $21,010 at the time of purchase and $5,390 at the end of each of the next 8 years. The tractor should be recorded on December 31, 2020, at what amount, assuming an appropriate interest rate of 12%?

Reference no: EM132762683

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