Fishbone Corporation purchased a special tractor on December 31, 2014. The purchase agreement stipulated that...
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Fishbone Corporation purchased a special tractor on December 31, 2014. The purchase agreement stipulated that Fishbone should pay $22,950 at the time of purchase and $5,360 at the end of each of the next 10 years. The tractor should be recorded on December 31, 2014, at what amount, assuming an appropriate interest rate of 11%?
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