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On 1/1/2020, M. Scott received an $1,000,000 zero interest-bearing note due on 1/1/2025. The prevailing rate of interest for a note of this type at
On 1/1/2020, M. Scott received an $1,000,000 zero interest-bearing note due on 1/1/2025. The prevailing rate of interest for a note of this type at 1/1/2020 was 8%. The present value of $1 at 8% for 5 periods is 0.68. % 5 What amount of interest revenue should be included in M. Scott's 2021 income statement? $63,452 $58,752 SO $80,000
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