Long-Term Notes Receivable and TVM. Use the following present value tables to help answer the following questions. *Do not round any answer until your final answer. Round your final answer to the nearest whole dollar. When entering your final answer, do not use commas or $ sign. (Sorry...Blackboard is very sensitive and will mark your answer incorrect due to rounding and punctuation.)
PV of $1
Periods 4% 6% 8% 9%
3 .89 .84 .79 .77
5 .82 .74 .68 .65
9 .70 .59 .50 .46
10 .68 .56 .46 .42
Present Value of an Ordinary Annuity
Period 4% 6% 8% 9%
3 2.77 2.67 2.57 2.53
5 4.45 4.21 3.99 3.89
9 7.43 6.80 6.25 5.99
10 8.11 7.36 6.71 6.41
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (3) QUESTIONS:Sun Devil Inc. accepts a $1,000,000, 8% note on January 1, 2019, in exchange for merchandise. The note is due in 5 years and requires the customer to pay interest quarterly, beginning March 31, 2019. Principal will be received at maturity. The customer’s normal borrowing rate is 12%. Determine the amount of Sales Revenue Sun Devil can recognize on Jan 1, 2019: $Using the information in #1 above, determine the carrying value of the Note Receivable at December 31, 2021: $Using the information in #1 above, determine the Total Interest Revenue Sun Devil will earn over the entire 5-year lending agreement:$
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Long-Term Notes Receivable and TVM. Use the following present value tables to help answer the follo...
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