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Business, 15.06.2021 01:00 danding1593

Short Company purchased land by paying $27,000 cash on the purchase date and agreed to pay $27,000 for each of the next seven years beginning one-year from the purchase date. Short's incremental borrowing rate is 7%. On the balance sheet as of the purchase date, after the initial $27,000 payment was made, the liability reported is closest to:. a. $117,700.
b. $189,000.
c. $145,511.
d. $172,511.

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Short Company purchased land by paying $27,000 cash on the purchase date and agreed to pay $27,000 f...
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