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Currie Company borrowed $16,000 from the Sierra Bank by issuing a 10% three-year note. Currie agreed to repay the principal and interest by making annual

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Currie Company borrowed $16,000 from the Sierra Bank by issuing a 10% three-year note. Currie agreed to repay the principal and interest by making annual payments in the amount of $6,434 Based on this information, the amount of the interest expense associated with the second payment would be (Round your answer to the nearest dollar.) Multiple Choice $4 621 $866 1.600

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