(Solved): President Company purchased merchandise from Captain Corporation on September 30, 2024. Payment was ...

President Company purchased merchandise from Captain Corporation on September 30, 2024. Payment was made in the form of a noninterest-bearing note requiring President to make six annual payments of \( \$ 6,200 \) on each September 30 , beginning on September \( 30,2027 . \) Required: Calculate the amount at which President should record the note payable and corresponding purchase on September 30,2024, assuming that an interest rate of \( 8 \% \) properly reflects the time value of money in this situation. Note: Use tables, Excel, or a financial calculator, Round your final answers to nearest whole dollar amount. Round your intermediate calculations to the nearest whole dollar. (EV of \$1, PV of \$1. EVA of \( \$ 1 \), PVA of \$1. EVAD of \( \$ 1 \) and PVAD Of SI)