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Coronado Company purchased a building on January 2 by signing a long-term $476000 mortgage with monthly payments of $5300. The mortgage carries an interest rate

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Coronado Company purchased a building on January 2 by signing a long-term $476000 mortgage with monthly payments of $5300. The mortgage carries an interest rate of 12 percent. The amount owed on the mortgage after the first payment will be $470700 $471240. $475460 O $476000

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