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On March 1, RS Company purchased land from C Company issuing a zero-interest bearing note...

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Accounting

On March 1, RS Company purchased land from C Company issuing a zero-interest bearing note for $850,000 payable in 5 years. The land is carried on C Companys books at a cost of $450,000 and has a fair market value of $722,000. SHOW ALL CALCULATIONS!

a. The present value of the note is $_____

b. The cost of the land to RS Company is $_____

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