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On January 1, 2014, Alan King decided to transfer an amount from his checking account into a savings account so that he will have $95,000 to send his son to college 6 years from now. The savings account will earn 8 percent interest.
Required:
1. How much must Alan deposit on January 1, 2014 in order to reach his goal? (Round your final answer to the nearest whole dollar amount.)
Fixed manufacturing overhead was $1 per unit in beginning inventory under absorption costing. Ending inventory was zero. Explain how many units did the company produce during the year?
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