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How much should bonita record as the cost of the machine

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Question 1: Bonita Corporation bought a new machine and agreed to pay for it in equal annual installments of $5,590 at the end of each of the next 10 years. Assuming that a prevailing interest rate of 8% applies to this contract, how much should Bonita record as the cost of the machine? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Reference no: EM132483857

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