What would be the amount related to the note

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Reference no: EM132970582

On January 1, 2021, the Merit Group issued to its bank a $30 million, five-year installment note to be paid in five equal payments at the end of each year. Installment payments of $7.122 million annually include interest at the rate of 6.0%.

Required:

Problem 1: What would be the amount(s) related to the note that Merit would report in its statement of cash flows for the year ended December 31, 2021?

Reference no: EM132970582

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