On January 1, 2021. Saltimbocca Corporation borrowed $211,205 from Morgan Stanley. Under the terms of...
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On January 1, 2021. Saltimbocca Corporation borrowed $211,205 from Morgan Stanley. Under the terms of the loan, Saltimbocca wil pay $500,000 to Morgan Stanley in ten years on December 31, 2030), which implies that the yield to maturity (or implicit interest rate) on the loan is 9.0% What is Saltimbocca's interest expense on the loan for the year ended December 31, 2023 (the third year of the loan)? (Hint: Round to the nearest dollar. Do not use any dollar signs, commas, or decimals in your answer). Fill in the blank
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