Hexaco Corp. exchanged a piece of land that was being held for investment purposes for an oil rig that it will use in its drilling operations. The land had a carrying value of $230,000 and a fair value of $250,000 on the date of the exchange. The oil rig received in exchange had a fair value of $200,000 and, as a result, Hexaco received an additional $50,000 in cash in the transaction. How much gain, if any, will Hexaco recognize on the exchange

Annuity payments are assumed to come at the end of each payment period (termed an ordinary annuity). however, an exception occurs when the annuity payments come at the beginning of each period (termed an annuity due). what is the future value of a 13-year annuity of $2,800 per period where payments come at the beginning of each period? the interest rate is 9 percent. use appendix c for an approximate answer, but calculate your final answer using the formula and financial calculator methods. to find the future value of an annuity due when using the appendix tables, add 1 to n and subtract 1 from the tabular value. for example, to find the future value of a $100 payment at the beginning of each period for five periods at 10 percent, go to appendix c for n = 6 and i = 10 percent. look up the value of 7.716 and subtract 1 from it for an answer of 6.716 or $671.60 ($100 × 6.716)