On January 1, 2017, MM Co. borrows $400,000 cash from a bank and in return signs an 8% installment note for five annual payments of $100,183 each, with the first payment due one year after the note is signed. (Table B.3) (Use PV factors from table provided.) 2. For the first $100,183 annual payment at December 31, 2017, what amount goes toward interest expense? What amount goes toward principal reduction of the note?