Campus Flights takes out a bank loan in the amount of $300,000 on March 1. The terms of the loan include a repayment of principal in ten equal installments, paid annually from March 1. The annual interest rate on the loan is 9 percent, recognized on December 31.

A. Compute the interest recognized as of December 31 in year 1.

$fill in the blank 1

B. Compute the principal due in year 1.

$fill in the blank 2