Crane Ltd. issued an instalment note on January 1, 2020 (with a required yield of 9%) in exchange for land that it purchased from Safayeni Ltd. Safayeni's real estate agent had listed the land on the market for $117,000. The note calls for three equal blended payments of $42,271 that are to be made at December 31, 2020, 2021, and 2022. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (b2) Your answer is correct. Prepare an effective-interest amortization table for the instalment note for the three-year period. (Round answers to O decimal places, e.g. 5,275. Do not leave any answer field blank. Enter O for amounts.) Year Note Payment 1/1/20 12/31/20 42,271 Effective Interest Amortization Table Effective Interest Method Interest 9,630 Reduction of Principal Carrying Amount 32,641 107,001 74,360 12/31/21 42,271 6,692 35,579 38,781 12/31/22 42,271 3,490 38,781 0