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

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 $11,500 beginning immediately. 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.)

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