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HQ Ltd. purchased a used truck from Trans Auto Sales Inc. HQ paid a $3,800 down payment and signed a note that calls for 36 payments of $1,025.00 at the end of each month. The stated rate of interest in the note is 6%. As an incentive for entering into the contract, Trans has agreed to forgive the first two payments under the lease.  

1.What was the purchase price of the used truck excluding the incentive given?


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