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What is the amount of amortization of discount

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Question - January 1, 2021, issued a 3-year 1,000,000 1% note payable in exchange for car. Principal is due at the end of term and interest is due annually every January 1. The prevailing interest rate for this type of note is 15%. What is the amount of amortization of discount on the note payable as of December, 31, 2022?

Reference no: EM132997756

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