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Sandusky Company borrowed $23,000 from the Lakeside Bank by issuing a 11% four-year installment note. Sandusky agreed to repay the principal and interest by making

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Sandusky Company borrowed $23,000 from the Lakeside Bank by issuing a 11% four-year installment note. Sandusky agreed to repay the principal and interest by making annual payments in the amount of $7,413.51. Based on this information, the amount of the interest expense associated with the second payment would be: (round your answer to the nearest dollar) X $2,530. X $1,993. X $2,471. X $824

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