Multiple Choice
What amount should be recorded as the cost of a machine purchased December 31, 2010, which is to be financed by making 8 annual payments of $6,000 each beginning December 31, 2011? The applicable interest rate is 8%.
A) $42,000
B) $37,481
C) $63,820
D) $34,480
Correct Answer:
Verified
Correct Answer:
Verified
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