Crane Company receives a $61,200, 7-year note bearing interest of 12% (paid annually) from a customer at
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Question:
Crane Company receives a $61,200, 7-year note bearing interest of 12% (paid annually) from a customer at a time when the discount rate is 8%.
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(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)
What is the present value of the note received by Crane? (Round answer to 2 decimal places, e.g. 25.25.)
Present value of note received | $enter the present value of the note rounded to 2 decimal places |
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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