Please explain how you get the PV.

* Question 7 On January 1, Pina Corporation issues a $130,000, 10-year non-interest bearing note to Camden Production for new machinery. The market interest rates the new machinery in cash is not available from the supplier at this time. and Camden is to pay $13,000 instalments at the end of each year Fair value for a purchase of Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Calculate the purchase price using any of the three methods (tables, financial calculator of Excel). (Round factor values te 5 decimal places, e.g. 1.25124 and final answer to o decimal places, e.g. 5,275.) Purchase price $ Prepare the journal entry to record the machinery purchase. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round present value factor calculations to 5 decimal places, eg 1.25124 and the final answer to decimal places e.g. 58,971.) Date Account Titles and Explanation Debit Credit January 1 Record the journal entry for the first instalment payment on the note on Dec. 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required select "No Entry" for the account titles and enter for the amounts. Round present value factor calculations to 5 decimal places, eu. 1.25124 and the final answer to o decimal places eg 58.971.) Date Account Titles and Explanation Debit Credit December 31 Question Attempts: 0 of 3 used