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What is the value of company as note payable

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Question - Company A agreed to pay Company B $1,100 every month for a year (starting one month from today, so 12 payments in total) in exchange for a piece of equipment. The will be classified as long- term. Assuming an annual effective interest rate of 12%, what is the value of Company A's note payable at the time of the purchase?

Reference no: EM133159545

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