Required information [The following information applies to the questions displayed below.) On January 1, Year 1, Mahoney Company borrowed $181,000 cash from Sun Bank by issuing a 5-year, 8% term note. The principal and interest are repaid by making annual payments beginning on December 31, Year 1. The annual payment on the loan equals $41,050. What is the amount of principal repayment included in the payment made on December 31, Year 1? Multiple Choice $14,480 0 $26,570 0 $37,766 0 $41,050