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What is the interest rate used in discounting the purchase

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Reference no: EM133002040

Problem 1: Splish Inc. has completed the purchase of new Dell computers. The fair value of the equipment is $ 956,014. The purchase agreement specifies an immediate down payment of $ 232,000 and semiannual payments of $ 89,264 beginning at the end of 6 months for 5 years. What is the interest rate, to the nearest percent, used in discounting this purchase transaction

Reference no: EM133002040

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