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!!!!!!!!!!!!!!!!!!!!!!!!!! Sheridan Corporation purchased a special tractor on December 31,2020. The...

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Accounting

!!!!!!!!!!!!!!!!!!!!!!!!!!
Sheridan Corporation purchased a special tractor on December 31,2020. The purchase agreement stipulated that Sheridan should pay $20,600 at the time of purchase and $5,700 at the end of each of the next 8 years. The tractor should be recorded on December 31,2020, at what amount, assuming an appropriate interest rate of 10.75%?

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