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Alden Trucking Company is replacing part of its fleet of trucks by purchasing them under a note agreement with Kenworthy on January 1, 2022. Alden
Alden Trucking Company is replacing part of its fleet of trucks by purchasing them under a note agreement with Kenworthy on January 1, 2022. Alden financed $38,476,620, and the note agreement will require $10.15 million in annual payments starting on December 31, 2022, and continuing for a total of four more years (final payment December 31, 2026). Kenworthy will charge Alden Trucking Company the market interest rate of 10% compounded annually. After the first payment was made, the note payable liability on December 31, 2022 is closest to: A $40,600,000. B \$28,326,620. C \$33,401,620. D $32,174,282
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