What was the purchase cost of the machine to bangin, Financial Management

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What was the purchase cost of the machine to bangin

Bangin Inc. financed the purchase of a machine by making ten annual payments of $28,000 with the first payment due today. The purchase cost of the machine is considered to be the present value of those payments. What was the purchase cost of the machine to Bangin assuming a discount rate of 9%?

$179,694

$118,275

$195,867

$280,000

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