Question: Help me D Question 4 2 pts On January 1, 2021, Desert Company purchased a building for a purchase price of $164,560 and financed the

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D Question 4 2 pts On January 1, 2021, Desert Company purchased a building for a purchase price of $164,560 and financed the purchase with a 8-year note payable. The note bears interest at 6% and requires equal annual payments of principal and interest, with the first payment due immediately, and subsequent payments due each January 1st. Desert has a December 31st year end. Use one of the following factors: PVOA(6%, 8) = 6.20979 PVAD(6%, 8) = 6.58238 What is the interest expense Desert would report on its 2021 Income Statement for this note payable? [ Select ] Has this interest expense been paid in cash as of December 31, 2021? [ Select ] new data to save. Last checked at 12:57pm Submit Quiz

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