Help Save & Exit On January 1 a company determines it will need a new computer system costing $60,000 three years from now. It desires to make a single deposit into its bank today, January 1, that will grow to $60,000 three years from now. The bank is paying 5% interest compounded annually on such deposits With respect to the amount which is on deposit at the bank at the end of year 1, where would it be reported? Multiple Choice non-current asset current asset "other revenues and expenses stockholders' equity section of the balance sheet 7 02:24:49 The following are the time value of money formulas presented in the instructor notes. Use them as needed to answer the question below. You may also use the time value of money tables found on the last few pages of your text. FV PV (FVIFLn). FV PV (PVIF, L,n) FVOA PMT (FVIFOA, In), PVOA PMT (PVIFOA,1,n)) On January 1 a company determines it will need a new computer system costing $60,000 three years from now. It desires to make a single deposit into its bank today, January 1, that will grow to $60,000 three years from now If the bank is paying 5% interest compounded annually on such deposits calculate the amount of the deposit that needs to be made today. (answers may vary slightly due to rounding)] Multiple Choice $49.566 $54,422