QUESTION 15 Use the information below for the following two questions On January 1, 2020, Puto Corp, nocepted an 8 percent three-year $700,000 note from Berlusconi Co. in exchange for a service provided to Berlusconi. The effective yield (market rate) for such a note is 10 percent Pressent Value of 1 (3 periods) Future Value of 1 (3 periods) Present Value of an ordinary Annuity of 1 (3 periods) Future Value of an ordinary Annuity of 1 (3 periods) & percent 0.79383 1.25971 2.57710 3.24640 10 percent 0.75131 1.33100 2.48685 3.31000 How much sales revenue should Pato record? $651,962 $660,882 $665,181 $700,000 QUESTION 16 On January 1, 2020, Pato Corp. accepted an 8 percent three year $700,000 note from Berlusconi Co. in exchange for a service provided to Berlusconi. The effectivo y (market rate) for such a note is 10 percent. Present Value of 1 (3 periods) Future Value of 1 (3 periods) Present Value of an ordinary Annuity of 1 (3 periods) Future Value of an Ordinary Annuity of 1 (3 periods) 8 percent 0.79383 1.25971 2.57710 3.24640 10 percent 0.75131 1.33100 2.48685 3.31000 How much interest revenue should Pato record over the life of the note? $34,819 $71,851 $168,000 $202,815