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    chevychev Posts: 6, Reputation: 1
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    Jan 30, 2011, 04:30 PM
    Purchase price
    Peterson Inc. purchased a machine under a deferred payment contract on Dec 31, 2007. Under the terms of the contract, Peterson is required to make 8 annual payments of $140,000 each beginning Dec 31, 2008. The appropriate interest rate is 10%. The pruchase price of the machine is? a)804,530, b)1,120,000, c)1,389,190, d)746,890?

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