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Business, 05.05.2020 20:45 ashleyallred3299

Rachel Corporation purchased a building by paying $94,500 cash on the purchase date, agreeing to pay $50,900 every year for the next nine years and one payment of $104,500 ten years from the purchase date. The first payment is due one year after the purchase date. Rachel's incremental borrowing rate is 10%. The liability reported at on the balance sheet as of the purchase date, after the initial $94,500 payment was made, is closest to:

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