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On January 1, 2019, Carter Ltd. issued a 15-year, 5%, $600,000 note payable, with annual fixed principal payments of $40,000, plus interest. The cash payment

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On January 1, 2019, Carter Ltd. issued a 15-year, 5%, $600,000 note payable, with annual fixed principal payments of $40,000, plus interest. The cash payment for the first year is: 0 $30,000 O $42.000 O $70,000 0 $40,000 UCTION

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