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Sunland Electronics issues a $448,500,7%,10-year mortgage note on December 31,2021 . The proceeds from the note are to be used in financing a new research

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Sunland Electronics issues a $448,500,7%,10-year mortgage note on December 31,2021 . The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for annual installment payments, exclusive of real estate taxes and insurance, of $63,856. Payments are due on December 31 . (a) Prepare an instaliment payments schedule for the first 4 years. (Round answers to 0 decimal places, eg. 15,250.)

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