On January 1, 2021, Cullumber Corp. borrows $15,600 by signing a 3-year, 6% note payable. The note is repayable in three annual fixed principal payments on December 31 of each year. Calculate the annual principal payment. Annual principal payment $ Question Part Score Prepare an instalment payment schedule for the note. Period Cash payment Jan. 1, 2021 $ Dec. 31, 2021 Dec. 31, 2022 Dec. 31, 2023 Interest Expense Reduction of Principal Principal Balance $ $ $