What was the present value of Acme obligation

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Question - On 12-31-18, Acme entered into an agreement that required Acme to pay someone $100,000 on 12-31-28. Assume the appropriate market rate of interest for Acme was 4%.

1. As of 12-31-18, what was the present value of Acme's obligation?

2. As of 12-31-22, what was the present value of Acme's obligation?

3. As of 12-31-26, what was the present value of Acme's obligation?

Reference no: EM132684118

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