Question: Brief Exercise 5-9 (Algo) Present value; annuity due; installment notes [LO5-8, 5-10] Canliss Mining Company borrowed money from a local bank. The note the company

Brief Exercise 5-9 (Algo) Present value; annuity due; 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 $18,500 beginning immediately. The interest rate on the note is 6% (EV of $1. PV of $1. FVA of $1. PVA of $1. EVAD 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 Present Value PVAD of $1 $ 18,500 n = 5 6%

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