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What would be the amount related to the note

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Question - On January 1, 2021, the Merit Group issued to its bank a $25 million, five-year installment note to be paid in five equal payments at the end of each year. Installment payments of $6.097 million annually include interest at the rate of 7.0%.

Required - What would be the amount related to the note that Merit would report in its statement of cash flows for the year ended December 31, 2021?

Reference no: EM133171438

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