Crane Taco Company receives a $94.500, 6-year note bearing interest of 8% (paid annually) from a customer at a time when the discount rate is 10%. Click here to view the factor table. What is the present value of the note received by Crane? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, eg. 25.25) Present value of note received $

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Crane Taco Company receives a $94,500, 6-year note bearing interest of 8 % (paid annually) from a customer at a time when the
discount rate is 10%.
Click here to view the factor table.
What is the present value of the note received by Crane? (For calculation purposes, use 5 decimal places as displayed in the factor table
provided. Round answer to 2 decimal places, e.g. 25.25.)
Present value of note received
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Transcribed Image Text:Crane Taco Company receives a $94,500, 6-year note bearing interest of 8 % (paid annually) from a customer at a time when the discount rate is 10%. Click here to view the factor table. What is the present value of the note received by Crane? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.) Present value of note received e Textbook and Media Save for Later $ Attempts: unlimited Submit Answer
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