Transaction 1 On June 1, 2020, Bramble purchased equipment from Venghaus Corporation. Bramble issued a $20,500, 4-year, non-interest-bearing note to Venghaus for the new equipment. Bramble will pay off the note in 4 equal instalments due at the end of each of the next 4 years. At the transaction date, the prevailing market interest rate for obligations of this nature was 8%. Freight costs of $440 and installation costs of $470 were incurred in completing this transaction. The new equipment qualifies for a $1,930 government grant. Transaction 2 On December 1, 2020, Bramble purchased several assets of Haukap Shoes Inc., a small shoe manufacturer whose owner was retiring. The purchase amounted to $209,800 and included the assets in the folloving list. Bramble engaged Tennyson Appraisal Inc., an independent appraiser, to determine the assets' fair values, vhich are also provided. Haukap Book Value Fair Value Inventory $59,680 $49,820 Land 39,940 79,712 Building 69,930 119,568 $169,550 $249,100 During its fiscal year ended May 31, 2021, Bramble incurred $7,730 of interest expense to finance these assets. Transaction 3 On March 1, 2021, Bramble traded in four units of specialized equipment and paid an additional $24,850 cash for a technologically up-to-date machine that should do the same job as the other machines, but much more efficiently and profitably. The equipment that was traded in had a combined carrying amount of $34,630, as Bramble had recorded $44,610 of accumulated depreciation against these assets. Bramble's controller and the sales manager of the supplier company agreed that the new equipment had a fair value of $63,500. (b1) For each of the three transactions described above, determine the value at which Bramble Corporation should record the acquired assets. For any measurement involving present value concepts, provide your calculations using any of the following: tables, Excel functions, or a financial calculator. (Do not round intermediate calculations. Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275. The tables in this problem are to be used as a reference for this problem.) Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Transaction 1: Equipment Transaction 3: Machine