Martin Bank grants a ten-year loan to Duff, Inc. in the amount of $150,000 with...
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Martin Bank grants a ten-year loan to Duff, Inc. in the amount of $150,000 with a stated interest rate of 6%. Payments are due monthly, and are computed to be $1,665. Martin Bank incurs $4,000 of direct loan origination costs. In addition, Martin Bank charges Duff, Inc. a four-point nonrefundable loan origination fee. Duff, the borrower, has a carrying amount of
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