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Laverne purchased a new piece of equipment to be used in its new facility. The $405,000 piece of equipment was purchased with a $40, 500

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Laverne purchased a new piece of equipment to be used in its new facility. The $405,000 piece of equipment was purchased with a $40, 500 down payment and with cash received through the issuance of a $364, 500, 8%, 5-year mortgage payable issued on January 1. 2017. The terms provide for annual installment payments of $19, 291 on December 31. Prepare an installment payments schedule for the first five payments of the notes payable. (Round answers to 0 decimal places, e.g. 125) Amount may be off due to rounding

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