Question 14 Sharon Walsh has developed an educational software package. She agrees to sell the patent to Pensca for five annual payments of $50,000 each. The payments are to begin four years from today. Given an annual rate of 6%, what is the approximate present value of the five payments? Not yet answered Points out of 3.00 Select one: a. $176,839 P Flag question b. $187,450 c. $210,618 d. $218,820 e. $166,828 Question 15 Not yet answered On January 1, 2015, Oxford Company finished consultation services and accepted in exchange a promissory note with a face value of $600,000 and a due date of December 31, 2017. The stated rate of interest is 5% with interest receivable at the end of each year through 12/31/17. Assume an effective interest rate of 10% is implicit in the agreed-upon price. The effective amortization method is used. Points out of 3.00 Oxford's journal entry on 1/1/15 to record service revenue will include: Flag question Select one: a. A credit to Notes Receivable for $600,000 b. A credit to Service Revenue for $600,000 C. A credit to Discount on Notes Receivable for $74,602 d. A debit to Service Revenue for $525,398 e. A credit to Discount on Notes Receivable for $52,145