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Currie Company borrowed $12,000 from the Sierra Bank by issuing a 9% three-year note. Currie...

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Accounting

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Currie Company borrowed $12,000 from the Sierra Bank by issuing a 9% three-year note. Currie agreed to repay the principal and interest by making annual payments in the amount of $4,221. Based on this information, the amount of the interest expense associated with the second payment would be: (Round your answer to the nearest dollar.) Multiple Choice

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