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Crane Inc. borrowed $ 4 0 3 0 0 0 on April 1 . The note requires interest at 1 2 % and principal to

Crane Inc. borrowed $

403000

on April

1 .

The note requires interest at

12 %

and principal to be paid in one year. How much interest is recognized for the period from April

1

to December

31 ?

O $

48360

O $

36270

0

0

O $

3224

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