The equipments retail cash price is

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Reference no: EM131178243

On January 1, Snipes Construction paid for earth-moving equipment by issuing a $300,000, 3-year note that specified 2% interest to be paid on December 31 of each year.

The equipment's retail cash price was unknown, but it was determined that a reasonable interest rate was 5%.

(FV of $1,

PV of $1,

FVA of $1,

PVA of $1,

FVAD of $1and

PVAD of $1)

(Use appropriate factor(s) from the tables provided.)

Reference no: EM131178243

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