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On July 1, Shady Creek Resort borrowed $360,000 cash by signing a 10-year, 9% installment note requiring equal payments each June 30 of $56,095. What

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On July 1, Shady Creek Resort borrowed $360,000 cash by signing a 10-year, 9% installment note requiring equal payments each June 30 of $56,095. What amount of interest expense will be included in the first annual payment? Multiple Choice $36,000 O $56,095 O $23,695 O $32.400 $336,305

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