**Question 11 of 22****Current Attempt in Progress**Bonita Industries is purchasing new equipment with a cash cost of $211,800 for the assembly line. The manufacturer has offered to accept $45,800 payments at the end of each of the next six years. What is the interest rate that Bonita Industries will be paying?- ○ 7%- ○ 9%- ○ 6%- ○ 8%**Save for Later** **Attempts: 0 of 1 used** **Submit Answer**

Present value = $211,800 Annuity = $45,800 Period = 6

Answered: Bonita Industries is purchasing new…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bonita Industries is purchasing new equipment with a cash cost of $ 211800 for the assembly line. The manufacturer has offered to accept $ 45800 payments at the end of each of the next six years. What is the interest rate that Bonita Industries will be paying? O 7%. O 9%. O 6%. O 8%.