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On Jan 1 2020 Ann Price loaned $243,243 to Joe Kiger. A zero interest bearing note (face amount $315,000) was exchanged solely for cash; no

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On Jan 1 2020 Ann Price loaned $243,243 to Joe Kiger. A zero interest bearing note (face amount $315,000) was exchanged solely for cash; no other rights or provileges were exchanged. The note is repaid on dec 31,2022. The prevailing rate of interest for a loan of this type is 9%. The present value of $315000 at 9% for 3 years is $243,243. What amount of interest should Ms Price recognize in 2020? ***what amount a-28350 of interest income should b-85050 Ms price C-66400 recognize in 2020? d-21892

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