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On January 1, 2018, Benbrook Company purchased equipment and signed a six year mortgage note for $80,000 at 15%. The note will be paid in

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On January 1, 2018, Benbrook Company purchased equipment and signed a six year mortgage note for $80,000 at 15%. The note will be paid in equal annual installments of $21,139, beginning January 1, 2019. Calculate the balance of Mortgage Payable after the payment of the first installment. (Round your answer to the nearest whole number.) O A. $60,351 O B. $70,861 O c. $12,000 OD. $58,861

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