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What the purchase price of the machine is

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Problem 1: Peter, Inc. purchased a machine under a deferred payment contract on December 31, 20x1. Under the terms of the contract, Peter is required to make eight annual payments of P140,000 each beginning December 31, 20x2. The appropriate interest rate is 8%. The purchase price of the machine is

Option A. P1,389,190

Option B. P868,900

Option C. P804,520

Option D. P1,120,000

Option E. Ans not given

Reference no: EM132617798

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