Multiple Choice Question 97 On January 1, 2018. Coronado industries sold property to Sanchill Co, which originally cost Coronado 52000000. There was no established exchange price for this property. Sandhil gave Coronado a $4110000 zero-interest-bearing note payable in three equal annual installments of $1370000 with the first payment due December 31, 2018. The nohe has no ready market. The prevailing rate of interest for a note of this type is 10%. The present value of a $4110000 note payable in three equal annual installments of $1370000 at 10% rate of interest is $3407190 What is the amount of interest income that should be recognized by Coronado in 2018. Using the effective interest method