On December 31, 2020, Ayayai Bank enters into a debt restructuring agreement with Barkley Company, which is now experiencing financial trouble. The bank agrees to restructure a 12%, issued at par, $2,800,000 note receivable by the following modifications: 1. Reducing the principal obligation from $2,800,000 to $2,240,000. 2. Extending the maturity date from December 31, 2020, to January 1, 2024, 3. Reducing the interest rate from 12% to 10%. Barkley pays interest at the end of each year. On January 1, 2024, Barkley Company pays $2,240,000 in cash to Ayayai Bank. Answer the following questions related to Ayayai Bank (creditor).