Bangin inc financed the purchase of a machine by making ten, Ask an Expert

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Bangin Inc. financed the purchase of a machine by making ten annual payments of $28,000 with the first payment due today. The purchase cost of the machine is considered to be the present value of those payments. What was the purchase cost of the machine to Bangin assuming a discount rate of 9%?

$179,694

$118,275

$195,867

$280,000

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92305742

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