What the tractor should be recorded on december

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Problem 1: Teal Corporation purchased a special tractor on December 31, 2020. The purchase agreement stipulated that Teal should pay $21,960 at the time of purchase and $5,430 at the end of each of the next 8 years. The tractor should be recorded on December 31, 2020, at what amount, assuming an appropriate interest rate of 12%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places,

Reference no: EM132671488

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