Alden Trucking Company is replacing part of its fleet of trucks by purchasing them under a...

 

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Alden Trucking Company is replacing part of its fleet of trucks by purchasing them under a note agreement with Kenworthy on January 1, 2019. Alden financed $37,908,000, and the note agreement will require $10 million in annual payments starting on December 31, 2019 and continuing for a total of four more years (final payment December 31, 2023). Kenworthy will charge Alden Trucking Company the market interest rate of 10% compounded annually. The amount of principal that is paid at December 31, 2019 is: Multiple Choice O $13,790,800. $6,209,200. $6.000.000. 4 Subm Alden Trucking Company is replacing part of its fleet of trucks by purchasing them under a note agreement with Kenworthy on January 1, 2019. Alden financed $37,908,000, and the note agreement will require $10 million in annual payments starting on December 31, 2019 and continuing for a total of four more years (final payment December 31, 2023). Kenworthy will charge Alden Trucking Company the market interest rate of 10% compounded annually. The amount of principal that is paid at December 31, 2019 is: Multiple Choice O $13,790,800. $6,209,200. $6.000.000. 4 Subm

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