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The Strug Company purchased office furniture and equipment for $8,600 and agreed to pay for...

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Accounting

The Strug Company purchased office furniture and equipment for $8,600 and agreed to pay for the purchase by making five annual installment payments beginning immediately. The installment payments include interest at 8%. What is the required annual installment payment? (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)(Use appropriate factor(s) from the tables provided.)
Multiple Choice
$1,720
$2,154
$1,994
$1,466
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