To determine the present value (selling price) of the non-interest bearing promissory note, we can calculate it using the formula for the present value of a single sum:
\[ PV = \frac{FV}{(1 + r)^n} \]
Where:
- \( PV \) is the present value (selling price of the motor vehicle).
- \( FV \) is the future value (the amount of the note, Br. 200,000).
- \( r \) is the interest rate (9% or 0.09).
- \( n \) is the number of years until the note matures (3 years).
Substituting the values:
\[ PV = \frac{200,000}{(1 + 0.09)^3} \]
Calculating the denominator:
\[ (1 + 0.09)^3 = 1.09^3 \approx 1.295029 \]
Now calculate \( PV \):
\[ PV = \frac{200,000}{1.295029} \approx 154,031.71 \]
Thus, the selling price of the motor vehicle for Moon Corporation is approximately Br. 154,031.71.