Elephant Company is buying a Balloon Cart from Giraffe Company. The original cost on January 1, 20X2 was $50,000. Elephant put 10% down and is making five annual payments each December 31st of $10,682.84 which include interest at 6%. If Elephant is properly amortizing this purchase, the principal paid for 20X3 (second year) is:

Elephant Company is buying a Balloon Cart from Giraffe Company. The original cost on January 1, 202 was $50,000, Elephant put 10\% down and is making five annual payments each December 31 st of $10.682.84 which include interest at 6%. If Elephant is properly amortizing this purchase, the principal paid for 203 (second year) is