Loan interest deductions Liz Rogers just closed a $$10,000$ business loan that she must repay in three equal, end$-$of$-$year payments. The interest rate on the loan is $7\%.$ As part of her firm's

detailed financial planning, Liz wishes to determine the annual interest deduction attributable to the loan. $($Because it is a business loan, the interest portion of each loan payment is tax$-$deductible

to the business.$)$

a$.$ Determine the firm's annual loan payment.

b$.$ Prepare an amortization schedule for the loan.

c$.$ How much interest expense will Liz's firm have in each of the next $3$ years as a result of this loan?