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Sarasota Corporation purchased a special tractor on December 31, 2025. The purchase agreement stipulated that...

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Accounting

Sarasota Corporation purchased a special tractor on December 31, 2025. The purchase agreement stipulated that Sarasota should pay $20,010 at the time of purchase and $4,720 at the end of each of the next 8 years. The tractor should be recorded on December 31, 2025, at what amount, assuming an appropriate interest rate of 12%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Cost of tractor to be recorded

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