Question: Current Attempt in Progress Crane Ltd . , an equipment manufacturer, sold and delivered a piece of equipment to a buyer for $ 1 0

Current Attempt in Progress
Crane Ltd., an equipment manufacturer, sold and delivered a piece of equipment to a buyer for $106,000, with 50% payable in one year
and the remaining 50% payable in two years from the date of sale. Crane estimates that the interest rate for a similar financing
arrangement would be 12%. Calculate the amount of revenue that Crane should recognize on the date of sale using Excel or a financial
calculator. (Round discount factor to 5 decimals and final answer to 2 decimal places, e.g.5,275.55.)
Click here to view Table A.2- PRESENT VALUE OF 1-(PRESENT VALUE OF A SINGLE SUM)
Click here to view Table A.4- PRESENT VALUE OF AN ORDINARY ANNUITY OF 1
Revenue to be recognized on the date of sale
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Current Attempt in Progress Crane Ltd., an equipment manufacturer, sold and

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