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Rudy Corporation is looking to purchase a building costing $430,000 by paying $65,000 cash on...

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Accounting

Rudy Corporation is looking to purchase a building costing $430,000 by paying $65,000 cash on the purchase date, and agreeing to make annual payments for the next seven years. The first payment is due one year after the purchase date. Rudy's incremental borrowing rate is 8%. Each of the annual payments is closest to

a) 82,591

b) 52,143

c) 60,820

d) 70,106

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