A company borrowed cash from the bank by signing a 5-year, 8% installment note. The present value of an annuity at 8% for 5 years is 3.9927. Each annuity payment equals $75,137.13. The present value of the note is:
A) $75,137.13.
B) $94,013.13.
C) $300,000.00.
D) $375,137.13.
E) $197,810.00.
Correct Answer:
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