P9-11 Computing Present Values LO9-7, 9-8 [The following information applies to the questions displayed below. On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for all transactions): (FV of $1, PV of $1, FVA of $1, and PVA of $1 (Use the appropriate factor(s) from the tables provided.) a. Borrowed $117,800 for six years. Will pay $7,400 interest at the end of each year and b. Established a plant remodeling fund of $492,100 to be available at the end of Year 7 c. Agreed to pay a severance package to a discharged employee. The company will repay the $117,800 at the end of the 6th year. A single sum that will grow to $492,100 will be deposited on January 1 of this year pay $76,400 at the end of the first year, $113,900 at the end of the second year, and $151,400 at the end of the third year. d. Purchased a $177,000 machine on January 1 of this year for $35,400 cash. A five- year note is signed for the balance. The note will be paid in five equal year-end payments starting on December 31 of this year