Use the Following 8% Interest Factors for Questions 102 Through

question 110

Multiple Choice

Use the following 8% interest factors for questions 102 through 105.
-What amount should be recorded as the cost of a machine purchased December 31, 2014, which is to be financed by making 8 annual payments of $9,000 each beginning December 31, 2015? The applicable interest rate is 8%.

• A) $63,000
• B) $56,222
• C) $95,730
• D) $51,719

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Definitions:

Dyes

Substances used to impart color to materials, such as fabric, hair, or food, often through a chemical or physical process.

Designs

The process of envisioning and planning the creation of objects, systems, buildings, or experiments to fulfill a particular purpose or address a specific problem.

Nineteenth Century

The period extending from the year 1801 through 1900, characterized by industrial, cultural, and political changes worldwide.

Japanese

Pertaining to Japan, its people, culture, or language.