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Sunland Company issues a $ 1 2 5 0 0 0 0 , 8 % , 2 0 - year mortgage note on January 1

Sunland Company issues a $1250000,8%,20-year mortgage note on January 1. The terms provide for annual installment payments,
exclusive of real estate taxes and insurance, of $127250. After the first installment payment, the principal balance is
$1150000
$1250000
$1222750
$1122750
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