On 1st december 2012 simmons company sold land to keller

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On 1^st December, 2012, Simmons Company sold land to Keller Company. The two companies entered into an installment sales agreement at a predetermined interest rate. The contract required 5 equal annual payments with the first payment due on 1^st December, 2012, the date of the sale. Find what present value concept is appropriate for this situation?

Reference no: EM13370799

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