Multiple Choice
What amount should be recorded as the cost of a machine purchased December 31, 2015, which is to be financed by making 8 annual payments of $8,000 each beginning December 31, 2016? The applicable interest rate is 8%.
A) $56,000
B) $49,975
C) $85,093
D) $45,973
Correct Answer:
Verified
Correct Answer:
Verified
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