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Riverbed Excavating Inc. is purchasing a bulldozer. The equipment has a price of $97,600. The...

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Accounting

Riverbed Excavating Inc. is purchasing a bulldozer. The equipment has a price of $97,600. The manufacturer has offered a payment plan that would allow Riverbed to make 10 equal annual payments of $15,883.95, with the first payment due one year after the purchase.
(a)
How much total interest will Riverbed pay on this payment plan? (Raund answer to O decimal places, eg: 5,125)
Total interest $
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(b)
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