Expanding Corporation financed a $500,000 expansion by mortgaging their head office building for seven years. They negotiated a rate of 5% per annum. They will make equal annual payments at the end of the year. Note: if needed, complete the amortization table for the mortgage using the effective interest method What is the amount of the principal payment in Year 2 Multiple Choice O $86,410 O O $64,480 O $71,429 O None of the other alternatives are correct O $25,000