Burlingame Co. is purchasing a new forklift to be used in its warehousing operations. Burlingame...
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Accounting
Burlingame Co. is purchasing a new forklift to be used in its warehousing operations. Burlingame borrowed $120,000 from its bank in return for an installment note with 8% interest. Burlingame will make 6 equal annual payments of $25,958. Interest expense for the second period equals:
a.) $17,667.
b.) $9,600.
c.) $8,291.36.
d.) $25,958.
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