Min Co Buys A New Machine And Agrees To Pay For The Machine With The Following T

Min Co. buys a new machine and agrees to pay for the machine with the following terms. There is no down payment and Min sends a cheque in for $300,000 for each of the next six years. Money is worth 6% per annum and is compounded semi-annually. Min would capitalize this machine at:

$0 (you cannot capitalize it until it is fully paid for)

$300,000 (and each year the capitalization would be increased by another $300,000)

Some other amount

The gross amount of the obligation ($1,800,000)

The future value of the stream of annuity payments

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