Please help me solve! Interest rate of 4%

Ace's fiscal year ends on December 31st every year. Ace prepares accrual adjusting entries semi-annually, on June 30th and Dec. 31st each year. Ace applies US GAAP for all of its debt instruments and does not use the fair value option. On 1/1/16, Ace decided to purchase equipment with a fair market value of $350,000. Ace financed this purchase with the vendor by issuing a loan payable. The loan payable has a face value of $492,243 because that's the amount that Ace is required to pay the vendor on the maturity date of December 31, 2019. No other payments are required on this loan. Annual annuity payment amount required = Number of periods (n) = (NOTE: Even though Ace prepares semi-annual AJEs, this loan requires annual compounding.) Market interest rate per period = Original carrying value of this NON-CASH LOAN = You must ignore depreciation AJEs for the equipment purchased by this loan. Account Debit Credit Date 1/1/16 6/30/16 12/31/16