Applying Time Value of Money Concepts Manchester Corporation takes a 20-year mortgage of $12 million. The annual interest rate on the mortgage is 7% and payments are due at the end of each year. a. Determine the annual mortgage payment. Note: Round your answer to the nearest whole dollar. $ b. Use the financial statement effects template to record (1) the mortgage proceeds, (2) the firt mortgage payment, and (3) the second mortgage payment. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Note: Round your answers to the nearest whole dollar