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Alex Industries purchased property by paying $37,000 cash on the purchase date...

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Accounting

Alex Industries purchased property by paying $37,000 cash on the purchase date and agreeing to pay $37,000 for each of the next seven years beginning one-year from the purchase date. Alex's incremental borrowing rate is 10%. The property reported on the balance sheet is closest to: (FV of $1, PV of $1, FVA of $1, and PVA of $1)
Note: Use the appropriate factor(s) from the tables provided.

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