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Exercise B$-2($Algo$)$ Present value of an amount LO P$1$

On January $1,$ a company agrees to pay $$12,000$ in eight years. If the annual interest rate is $2\%,$ determine how much cash the company can borrow with this agreement. $($PV of $$1,FV$ of $$1,$PVA of $$1,$ and FVA of $$1)$ Note: Use appropriate factor$($s$)$ from the tables provided. Round "Table Factor" to $4$ decimal places.

$\backslash$table$[[$Future Value,,Table Factor,$],[$Amount Borrowed,,,,$],[$$$,12,000,,8227,]]$ TABLE FACTOR AND AMOUNT BORROWED ARE INCORRECT. Please give correct answers