At the beginning of 2018. VHF Industries acquired a equipment with a fair value of $8,710,520 by issuing a six-year. noninterest-bearing note in the

At the beginning of 2018, VHF Industries acquired a equipment with a fair value of $8,710,520 by issuing a six-year, noninterest-bearing note in the face amount of $12 million. The note is payable in six annual installments of $2 million at the end of each year.