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please show work thank you 12. Cincinnati Reds, Corp. sold $275,000 of merchandise and accepted a $275,0008%, 1-year note payable in exchange. Assuming 8% approximates

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12. Cincinnati Reds, Corp. sold $275,000 of merchandise and accepted a $275,0008%, 1-year note payable in exchange. Assuming 8% approximates the market rate of return, how much interest would be recorded for the year ending December 31 if the sale was made on April 30 ? (Round to the nearest dollar) a. $14,667. b. $33,000. c. $22,000. d. $16,500

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