Question: Current Attempt in Progress On January 1 , 2 0 2 4 , Laura Allen loaned $ 2 0 9 5 7 2 to Kevin

Current Attempt in Progress
On January 1,2024, Laura Allen loaned $209572 to Kevin King. A zero-interest-bearing note (face amount, $264000) was exchanged solely for cash; no other rights or privileges were exchanged. The note is to be repaid on December 31,2026. The prevailing rate of interest for a loan of this type is 8%. The present value of $264000 at 8% for three years is $209572. What amount of interest income should Ms. Allen recognize in 2024?
$16765
$21120
$63360
$46685
Current Attempt in Progress On January 1 , 2 0 2

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