How much should fishbone record as the cost of the machine

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Reference no: EM13127352

Fishbone Corporation bought a new machine and agreed to pay for it in equal annual installments of $4,570 at the end of each of the next 10 years. Assuming that a prevailing interest rate of 10% applies to this contract, how much should Fishbone record as the cost of the machine? (Round answers to 0 decimal places, e.g. $458,581.)

Reference no: EM13127352

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