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On January 1, Year 1, the Mahoney Company borrowed si77,000 cash from Sun Bank by issuing a five-year 8% term note. The principal and interest

On January 1, Year 1, the Mahoney Company borrowed si77,000 cash from Sun Bank by issuing a five-year 8% term note. The principal and interest are repoid by moking annual payments beginning on December 31 , Year 1 . The annual payment on the loan based on the present value of annulty factor would be $44,331. The amount of princlpal repayment included in the December 31 , Year 1 payment is: Mutiple Choice 514,160 544.331 530171 537,674

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