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Present and future value tables of $1 at 11% are presented below

Accounting

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Present and future value tables of $1 at 11% are presented below.

 PV of $1FV of $1PVA of $1FVA of $110.900901.110000.900901.000020.811621.232101.712522.110030.731191.367632.443713.342140.658731.518073.102454.709750.593451.685063.695906.227860.534641.870414.230547.9129

On October 1, 2018, Justine Company purchased equipment from Napa Inc. in exchange for a noninterest-bearing note payable in four equal annual payments of $510,000, beginning Oct 1, 2019. Similar borrowings have carried an 11% interest rate. The equipment would be recorded at:

Multiple Choice

• $1,582,250.
• $1,884,909.
• $1,815,600.
• $2,040,000.