Coronado obtained a $532,000, 8% construction loan on March 1. Coronado repaid the loan on October 1. Coronado had $304,000 of other outstanding debt during the year at a borrowing rate of 9%. Asset 1: Coronado acquired office furniture by making a $5,700 down payment and issuing a $7,600, 2-year, zero-interest-bearing note. The note is to be paid off in two $3,800 installments made at the end of the first and second years. It was estimated that the asset could have been purchased outright for $12,312.