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2.Biological Industries, Inc. purchased manufacturing equipment in exchange for a 15-year note receivable. Biological expects the installation and setup of the equipment to take place

2.Biological Industries, Inc. purchased manufacturing equipment in exchange for a 15-year note receivable. Biological expects the installation and setup of the equipment to take place over the next 6 months. However, payments on the note begin immediately. Which section of the authoritative guidance best outlines the treatment of interest in the historical cost of a long-lived tangible asset?

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