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What amount assuming appropriate interest rate of thirteen

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Problem

Sunland Corporation purchased a special tractor on December 31, 2017. The purchase agreement stipulated that Sunland should pay $19,360 at the time of purchase and $5,450 at the end of each of the next 7 years. The tractor should be recorded on December 31, 2017, at what amount, assuming an appropriate interest rate of 13%?

Reference no: EM131983714

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