On August 1, a $37,200, 9 % , 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest be paid each year on July 31. The present value of an annuity factor for 3 years at 9% is 2.5313. The present value of a single sum factor for 3 years at 9% is 07722. The payment each July 31 will be: Multiple Choice $12,400.00 $13,200.00. $12.800.00 $14,696.04 $2.296.04. MacBook Air