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Potash Corporation financed the purchase of a building by making semiannual payments of $32,000 for ...

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Potash Corporation financed the purchase of a building by making semiannual payments of $32,000 for ...

Potash Corporation financed the purchase of a building by making semiannual payments of $32,000 for the next twenty years, with the first payment due six months from today. The purchase cost of the building is considered to be the present value of those payments. What was the purchase cost of the building to Potash assuming an annual interest rate of 10%? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations, and round your final answer to the nearest dollar.)
A) $576,545
B) $549,091
C) $640,000
D) $181,818

Textbook

Intermediate Accounting

Edition: 1^st

Authors: Gordon, Raedy, Sannella

Read 44 times

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claire_sher123

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More solutions for this book are available here

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Morgs Author

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Going to mark this solved!

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