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What is the amount of expense ivanhoe must recognize

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Question: Ivanhoe Company borrowed $850000 from BankTwo on January 1, 2019 in order to expand its mining capabilities. The 5-year note required annual payments of $221371 and carried an annual interest rate of 9.5%. What is the amount of expense Ivanhoe must recognize on its 2020 income statement?

Reference no: EM132753243

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