What is the cost of the machine, Accounting Basics

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What is the cost of the machine

Problem

A machine is purchased by making payments of $20000 at the beginning of each of the next five years. The interest rate was 12%. The future value of an ordinary annuity of 1 for five periods is 6.35285. The present value of an ordinary annuity of 1 for five periods is 3.60478. What is the cost of the machine?

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