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Pharoah Ltd. receives a 3-year, $112000, zero-interest-bearing note. The present value of this note is $91425. Assuming the note was issued on January 1,2023, and

Pharoah Ltd. receives a 3-year, $112000, zero-interest-bearing note. The present value of this note is $91425. Assuming the note was issued on January 1,2023, and the effective interest method is used, the interest income to be recognized for calendar 2023 is $10001.90.$7840.00$7314.00$6399.75

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