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help needed if possible answer both please Straight Industries purchased a large piece of equipment from Curvy Company on January 1,2022 . Straight industrles signed

help needed if possible answer both please
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Straight Industries purchased a large piece of equipment from Curvy Company on January 1,2022 . Straight industrles signed a note, agreeing to p Curvy Company $300,000 for the equipment on December 31,2026 . The market rate of interest for similar notes was 9%. The present value of $300,000 discounted at 9% for five years was $194,979. On January 1, 2022, Straight Industries recorded the purchase with a debit to equipment fo $194,979 and a credit to notes payable for $194,979. On December 31, 2022, Straight recorded an adjusting entry to account for interest that had accrued on the note. Assuming no adjusting entries hav been made during the year, the interest expense accrued at December 31,2022 is closest to: Multiple Choice $22,493 $24,693 $27,000 517,548 . The return on equity is closest to: Multiple Choice 22.1% 15,8% 36.8% 55.3%

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