Laverne purchased a new piece of equipment to be used in its new facility. The $ 435,000 piece of equipment was purchased with a $ 43,500 down payment and with cash received through the issuance of a $ 391,500, 7%, 5-year mortgage payable issued on January 1,2017. The terms provide for annual installment payments of $ 95,483 on December 31. Prepare an installment payments schedule for the first five payments of the notes payable. (Round answers to O decimal places, eg. 125) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue $ Date 3 4