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What is the carrying value of the loan at the end of year

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Question - On January 1, the Hudson Company borrowed $190,000 to purchase machinery and agreed to pay 8% interest for six years on an installment note. Each note payment is $41,100 and is due on the last day of the year. What is the carrying value of the loan at the end of the first year?

A) $148,900

B) $190,000

C) $205,200

D) $164,100

Reference no: EM132535642

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