Sloan Co. acquired a packaging machine from Vintage Corp on January 1, 2016. In payment for the $4,575,000 machine, Sloan Co. issued a five-year installment note to be paid in five equal payments at the end of each year. The payments include interest at the rate of 8%. How much of the second installment payment made on December 31, 2017 is for the principal (reduction of notes payable) in 2017? O 366,000 O 842,225 303,613 O 779.838