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Concord Company borrowed $730000 from Bank Two on January 1, 2020 in order to expand its mining capabilities. The five-year note required annual payments of

Concord Company borrowed $730000 from Bank Two on January 1, 2020 in order to expand its mining capabilities. The five-year note required annual payments of $178040 and carried an annual interest rate of 6%. What is the amount of interest expense Concord must recognize on its 2021 income statement? O $35745.60 O $29965.60. O $22802.60 O $43800.00

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