(A) Brock purchases equipment that has a fair value of $50,000. Brock pays $10,000 as a down payment, and issues a note with principal of $60,000, and pays Interest of 1% annually, with the principal due in 10 years. What is the market rate for the note? (round to the nearest .1%) N= |= PMT= FV= PV= Work (if necessary) Answer (B) Bryce Manufacturing is going to issue a $10,000 bond on Jan. 1, 2020. The bond pays Interest of 6%, payable semi-annually on July 1 and January 1. The bonds mature in 10 years. The market rate of interest is 4% at the time of issue. How much did Bryce receive from the Issuance of the bonds? N= |= Work (if necessary) Answer PMT= FV= PV= (C) Brennan is going to sell a building that has an original cost of $100,000, book value of $60,000. In exchange, Brennan receives $5,000 cash and a non-interest-bearing note of $100,000 due in 5 years. The market rate of the note is 8%. What is the gain or loss on the sale? N= PMT= FV= Work Answer PV= 3 points. Prepare the journal entry Brennan would make for the sale of the building (accounts and amounts)