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What was the cost of the machine to jenks

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Question - Jenks Company financed the purchase of a machine by making payments of $10,000 at the end of each of five years. The appropriate rate of interest was 8%. The future value of one for five periods at 8% is 1.46933. The future value of an ordinary annuity for five periods at 8% is 5.8666. The present value of an ordinary annuity for five periods at 8% is 3.99271. What was the cost of the machine to Jenks?

A) $50,000

B) $39,927

C) $58,667

D) $14,794

Reference no: EM131793656

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