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On January 1,2024, the Mountain Company agreed to purchase a building by making six payments....

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Accounting

On January 1,2024, the Mountain Company agreed to purchase a building by making six payments. The first three are to be $39,000 each, and will be paid on December 31,2024,2025, and 2026. The last three are to be $54,000 each and will be paid on December 31,2027,2028, and 2029. Mountain borrowed other money at a 12% annual rate.
Required:
At what amount should Mountain record the note payable and corresponding cost of the building on January 1,2024?
How much interest expense on this note will Mountain recognize in 2024?
Note: For all requirements, use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
\table[[1. Amount recorded],[2. Interest expense]]
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