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On 1/1 Year 1 Copley Company borrowed $572.000 from National Bank The year note carried an annual interest rate of 6% and required annual payments

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On 1/1 Year 1 Copley Company borrowed $572.000 from National Bank The year note carried an annual interest rate of 6% and required annual payments of $135.791 each December 31st. What is the amount of interest expense frounded that Copley Company must recognize on their Year 2 income statement? Mercice $107,559 $21.778 $28.232 O 5101471 $34,320

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