Business, 07.07.2020 17:01 princesincer9256

On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for all transactions): (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) Promised to pay a fixed amount of $7,200 at the end of each year for seven years and a one-time payment of $117,400 at the end of the 7th year. Established a plant remodeling fund of $491,800 to be available at the end of Year 8. A single sum that will grow to $491,800 will be deposited on January 1 of this year. Agreed to pay a severance package to a discharged employee. The company will pay $76,200 at the end of the first year, $113,700 at the end of the second year, and $151,200 at the end of the third year. Purchased a $176,000 machine on January 1 of this year for $35,200 cash. A five-year note is signed for the balance. The note will be paid in five equal year-end payments starting on December 31 of this year. a) In transaction (a), determine the present value of the debt. (Round your answer to nearest whole dollar.)b) In transaction (b), what single sum amount must the company deposit on January 1 of this year? (Round your answer to nearest whole dollar.)What is the total amount of interest revenue that will be earned? (Round your answer to nearest whole dollar.)c) In transaction (c), determine the present value of this obligation. d) In transaction (d), what is the amount of each of the equal annual payments that will be paid on the note?What is the total amount of interest expense that will be incurred?

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On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for...

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