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How much total interest will Sheridan pay

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Question - Sheridan Company maintains its accounting records using IFRS. The company purchases equipment with a price of $340000. The manufacturer has offered a payment plan that would allow Sheridan to make 10 equal annual payments of $41919, with the first payment due one year after the purchase. How much total interest will Sheridan pay on this payment plan?

Reference no: EM132557825

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