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Questions 3 - 5 use the below data. You bought a piece of equipment by signing the following note payable. The note is due at

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Questions 3 - 5 use the below data. You bought a piece of equipment by signing the following note payable. The note is due at maturity and interest is due annually. Face value 355,600 Coupon rate 4.3% Market rate 7.5% Term What is the amount of interest expense in year 3 under GAAP? Multiple Choice O 26,670 O 23,812 O 22,664 O 15,291

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