Short Problem A company purchased two new delivery vans for a total of $420,000 on January 1, Year 1. The company signed a $420,000, 3-year, 8% note for the purchase of the new delivery vans. The note is to be paid in three annual end-of-year payments of $162,974 each, with the first payment on December 31, Year 1. Each payment includes interest on the unpaid balance plus principal. Prepare if you don't like the one below.) a note amortization table to answer the following questions. (Note: You may use any format you desire, Cash Payment Amount allocated Amount Allocated Outstanding To Interest Exp. To Principal Date 1/1/ Year1 12/31/Year 1 12/31/Year 2 Balance Note Payable $420,000 12/3 1/Year 3 Using your preferred format for an amortization table, answer the following questions. 24. On the first payment (12/31/Year 1), what amount is allocated to interest expense? 25. On the second payment (12/31/Year 2), what amount is allocated to principal reduction of the note payable outstanding balance? $ 26. After the third payment, what is the outstanding balance on the note payable? $