Question: Brief Exercise 5-8 (Static) Present value; ordinary annuity; installment notes [LO5-8, 5-10] Canliss Mining Company borrowed money from a local bank. The note the company

Brief Exercise 5-8 (Static) Present value; ordinary annuity; installment notes [LO5-8,

Brief Exercise 5-8 (Static) Present value; ordinary annuity; installment notes [LO5-8, 5-10] Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,000 beginning one year from today. The interest rate on the note is 7%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Round your final answers to nearest whole dollar amount.) Table or calculator function: Payment n = 1 = Present Value

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