Novak purchased a new piece of equipment to be used in its new facility. The $379,000 piece of equipment was purchased with a $45,000 down payment and with cash received through the issuance of a $334,000, 11%, 5-year mortgage payable issued on January 1,2022. The terms provide for annual installment payments of $90,370 on December 31. Your answer is correct. Prepare an installment payments schedule for the five payments of the notes payable. (Round answers to O decimal places, e.g. 15,250.) Cash Payment Interest Expense Reduction of Principal 90370 $ 36740 $ 53630 90370 30841 $ Principal Balance 334000 280070 59529 220641 90370 24293 66077 154764 90370 17024 73346 81418