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Land enterprises has purchased new equipment on a

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Land Enterprises has purchased new equipment on a long-termpayment plan. The contract calls for Land to pay $50,000 at the endof each year for 6 years, at an interest rate of 8%. At what amountshould Land record this equipment and what total amount of interestwill it pay over the 6 years?

Reference no: EM13610984

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