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Can you help? On January 1, 2021, the Merit Group issued to its bank a $25 million, fiveyear installment note to be paid in ve
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On January 1, 2021, the Merit Group issued to its bank a $25 million, fiveyear installment note to be paid in ve equal payments at the end of each year. Installment payments of $6.097 million annually include interest at the rate of 7.0% Required: What would be the amount{s} related to the note that Merit would report in its statement of cash flows for the year ended December 31, 2021? {List each cash flow separately. List any cash outows wid'l a minus sign. Enter your answers in millions rounded to 2 decimal places [i.e., 5,500,000 should be entered as 5.501.}Step by Step Solution
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