Cooper Company has purchased equipment that requires annual payments of $ 20,000 to be paid at the end of each of the next 6 years. The discount rate…
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Cooper Company has purchased equipment that requires annual payments of $ 20,000 to be paid at the end of each of the next 6 years. The discount rate is 14%. The present value of $1 for six periods at 14% is 0.456. The present value of an ordinary annuity of $1 for six periods at 14% is 3.889. What amount will be assigned to the equipment?
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