Cooper Company has purchased equipment that requires annual payments of $ 20,000 to be paid at the end of each of the next 6 years. The discount rate…

Cooper Company has purchased equipment that requires annual payments of $ 20,000 to be paid at the end of each of the next 6 years. The discount rate is 14​%. The present value of​ $1 for six periods at 14​% is 0.456. The present value of an ordinary annuity of​ $1 for six periods at 14​% is 3.889. What amount will be assigned to the​ equipment?

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