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Pharoah Company borrowed 51430000 from U.S. Bank on January 1, 2019 in order to expand its mining capabilities. The 5-year note required annual payments of

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Pharoah Company borrowed 51430000 from U.S. Bank on January 1, 2019 in order to expand its mining capabilities. The 5-year note required annual payments of $372424 and carried an annual interest rate of 9.5%. What is the amount of expense Pharoah must recognize on its 2020 income statement? $135850 $102545 $113375 592722

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