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The following information applies to the questions displayed below. On January 1, 2016, Brown Co. borrowed cash from First Bank by issuing a $102,000 face

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The following information applies to the questions displayed below. On January 1, 2016, Brown Co. borrowed cash from First Bank by issuing a $102,000 face value, four-year term note that had an 7 percent annual interest rate. The note is to be repaid by making annual cash payments of $30,113 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $54,000 cash per year. value Required information 5.00 points Required a. Prepare an amortization schedule for the four-year period. (Round your answers to the nearest dollar amount.) BROWN CO Amortization Schedule $102,000, 4-Yr. Term Note 7% Interest Rate Prin. Bal on Jan. 1 Cash Pay Dec. 31 Applied to Interest Applied to Principal Prin. Bal End of Period Year 2016 2017 2018 2019

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