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How much would Hawks Delivery Inc record

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Question - Hawks Delivery Inc. purchased a van to deliver goods. The vendor offered Hawks Delivery Inc. financing terms that required Hawks Delivery Inc. to make 6 equal payments of $ 12000 at the end of each year. The current interest rate for Hawks Delivery Inc. is 3%. How much would Hawks Delivery Inc. record as the initial purchase price of the van?

Reference no: EM133057981

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