What interest rate should Crane use to compute its interest expense in future periods? On December 31, 2025. American Bank enters into a debt restructuring agreement with Crane Company, which is now experiencing financial trouble. The bank agrees to restructure a 12%, issued at par, $2,300,000 note receivable by the following modifications: 1. Reducing the principal obligation from $2,300,000 to $1,510,000. 2. Extending the maturity date from December 31,2025 , to January 1,2029. 3. Reducing the interest rate from 12% to 10%. Crane pays interest at the end of each year. On January 1,2029, Crane Company pays $1,510,000 in cash to American Bank. Can Crane Company record a gain under this term modification? If yes, compute the gain for Crane Company. If no, enter amount as 0 . Prepare the journal entries to record the gain on Crane's books. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry.) What interest rate should Crane use to compute its interest expense in future periods