EA$1.$

LO $12\mathrm{.}1$Campus Flights takes out a bank loan in the amount of $$200,500$ on March $1.$ The terms of the loan include a repayment of principal in ten equal installments, paid annually from March $1.$ The annual interest rate on the loan is $8\%,$ recognized on December $31.($Round answers to the nearest whole dollar if needed.$)$

Compute the interest recognized as of December $31$ in year $1$ rounded to the whole dollar.

Compute the principal due in year $1.$