View Policies\ Current Attempt in Progress\ Swifty Corporation borrowed

$660000

from Liber Bank on January 1,2019 in order to expand its mining capabilities. The five-year note required annual payments of

$178200

and carried an annual interest rate of

8.50%

. What is the amount of expense Swifty must recognize on its 2020 income statement?\

$35580

\

$45722

\

$40969

\

$56100

Current Attempt in Progress Swifty Corporation borrowed $660000 from Liber Bank on January 1, 2019 in order to expand its mining capabilities. The five-year note required annual payments of $178200 and carried an annual interest rate of 8.50%. What is the amount of expense Swifty must recognize on its 2020 income statement? $35580 $45722 $40969 $56100