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25. Last question!! A company borrows money on a long-term basis, which requires monthly payments. They borrowed $100,000 on November 1, 2020 for 10 years,

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25. Last question!! A company borrows money on a long-term basis, which requires monthly payments. They borrowed $100,000 on November 1, 2020 for 10 years, at 4% interest. Monthly payments are $550 per month for the ten-year period. The company made the first two monthly payments. How much interest expense should the company report on its income statement for 2020 related to this loan? A. $4,000.00 B. $666.67 C. $665.94 D. $0

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