On September 1, 2022, Jones Manufacturing purchase equipment from CAT. Jones agreed to pay $25,000 on September 1, 2022 and the balance in six payments of $10,000. The six payments will be made every six months on March 1 and September 1. Assuming an interest rate of 8% (annual rate) reflects the time value of money, at what amount should Jones value the equipment?

Answer rating: 100% (QA)

Jones should value the equipment at approximately ... View the full answer