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Problem 1: Lira Company reported the following account balances on its income statement: cost of goods sold-$320,000, rent expense-$30,000, and salary expense-$90,000. During the year, prepaid rent went up by $5,000, accounts payable went down by $4,000, salary payable went up by $3,000, and inventory went down by $2,000. Determine the amount of cash paid for rent.
a. $25,000
b. $28,000
c. $35,000
d. $30,000
e. $31,000
Solve net present value for Method 1 and Method 2. (Do not round intermediate calculations and round your answers to 2 decimal places.)
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