On January 1, 2024, the Merit Group issued to its bank a $43 million, five-year installment...

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On January 1, 2024, the Merit Group issued to its bank a $43 million, five-year installment note to be paid in five equal payments at the end of each year. Installment payments of $10.600 million annually include interest at the rate of 7.4%. Required: What would be the amount(s) related to the note that Merit would report in its statement of cash flows for the year ended December 31, 2024? Note: List each cash flow separately. Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50). Answer is complete but not entirely correct. ($ in millions) Cash inflow from financing activities Cash outflow from operating activities Cash outflow from financing activities $ 43,00 $ 3.18 X 7.42 x On January 1, 2024, the Merit Group issued to its bank a $43 million, five-year installment note to be paid in five equal payments at the end of each year. Installment payments of $10.600 million annually include interest at the rate of 7.4%. Required: What would be the amount(s) related to the note that Merit would report in its statement of cash flows for the year ended December 31, 2024? Note: List each cash flow separately. Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50). Answer is complete but not entirely correct. ($ in millions) Cash inflow from financing activities Cash outflow from operating activities Cash outflow from financing activities $ 43,00 $ 3.18 X 7.42 x

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Answer To calculate the amounts related to the note that Merit would report in its statement of cash ... View the full answer