Polymer extrusion machine for consumer products division

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Reference no: EM131932146

Moore-4-Less, Inc. purchased a new polymer extrusion machine for its consumer products division. The company traded in an old machine with a fair market value of $2,000,000 to offset the purchase price. Moore-4-Less financed the balance of the purchase price through its commercial bank (EZ Money) with 6-year loan agreement that has an APR of 6% and monthly payments of $298,311.98. Given this information, the recognized purchase price of the new polymer extrusion machine would be:

Reference no: EM131932146

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