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How much interest expense would be recorded

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Problem - Whit Corporation purchased a piece of equipment on January 1, 2015 by agreeing to pay $900,000 on December 31, 2021. Assuming the appropriate interest rate is 9%, how much interest expense (rounded) would be recorded for the year ended December 31, 2016?

A) $48,298

B) $44,310

C) $52,644

D) $57,382

E) Cannot he determined

Reference no: EM132452212

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