Assuming an appropriate interest rate

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Flint Corporation purchased a special tractor on December 31, 2017. The purchase agreement stipulated that Flint should pay $18,650 at the time of purchase and $5,190 at the end of each of the next 8 years. The tractor should be recorded on December 31, 2017, at what amount, assuming an appropriate interest rate of 12%?

Reference no: EM131257090

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Assuming an appropriate interest rate : Flint Corporation purchased a special tractor on December 31, 2017. The purchase agreement stipulated that Flint should pay $18,650 at the time of purchase and $5,190 at the end of each of the next 8 years. The tractor should be recorded on December ..

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