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On January 1 Year 1, Mahoney Company borrowed $169,000 cash from Sun Bank by Issuing a 5-year, 8% term note. The principal and interest are

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On January 1 Year 1, Mahoney Company borrowed $169,000 cash from Sun Bank by Issuing a 5-year, 8% term note. The principal and interest are repold by making annual payments beginning on December 31, Year 1. The annual payment on the loan equals $40,750. What is the amount of principal repayment included in the payment made on December 31 Year 1? Multiple Choice $13.520 $10.750 $37490

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