9. Bought land for $240,000. Rate is 6%. Term of the note is 5 years. Payments are 56,975 per year. Please create the Amortization schedule showing the amount of interest and principal reduction each year for the loan. Fill in the spots for this schedule! Year Payment Interest Expense Prin. Reduction Book Value of note 1 56975 56975 3 56975 4 56975 5 56975