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eslla Corporation purchased land by signing a note with the seller requiring $ 5 , 0 0 0 immediately and $ 1 4 , 0

eslla Corporation purchased land by signing a note with the seller requiring $

5, 000

immediately and $

14, 000

three years after the purchase. The note is noninterest

-

bearing, but the interest rate for similar land purchases with notes of similar risk is

8 % .

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