A company owns a 6-year-old gear hobber that has a book value of $60,000. The present market value of the hobber is $80,000. A new gear hobber can be purchased for $450,000. Using an outsider’s point of view, what is the net first cost of purchasing the new gear hobber? a. $310,000 b. $370,000 c. $390,000d. $450,000.
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
A company owns a 6-year-old gear hobber that has a book value of $60,000. The
d. $450,000.
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