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You just purchased a piece of equipment on December 31, 20x0 it had a cost of $909693. You took out a 25 year loan for

You just purchased a piece of equipment on December 31, 20x0 it had a cost of $909693. You took out a 25 year loan for full amount of purchase. The loan interest rate is 13%. What is the interest expense to be recorded during the 20x1? Select one: a. $ 11826009 b. $ 0 c. $ 118260 d. $ 36388

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