Taggart Transcontinental Currently Has a Bank Loan Outstanding That Requires

question 23

Multiple Choice

Taggart Transcontinental currently has a bank loan outstanding that requires it to make annual payments at the end of the next three years or to skip making the next two payments in lieu of making one large payment at the end of the loan's term in three years in the amount of $3,184,000.If the interest rate on the loan is 6%,then the annual payment the bank will require to make Taggart Transcontinental indifferent between the two forms of payments is closest to:

• A)$2,673,000.
• B)$2,000,000.
• C)$1,673,000.
• D)$1,000,000.

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Definitions:

Drafts Agreement

A preliminary version of a contract or agreement that is subject to negotiations or revisions.

Omit Others

To leave out or exclude additional individuals or items from consideration or action.

Exerting

Applying effort, influence, or pressure to achieve a particular outcome.

Represented

Being acted on or spoken for by another, especially in a legal or professional context.