Business, 02.12.2020 16:20, eelebron0905

On January 1, 2021, Strato Corporation borrowed $2 million from a local bank to construct a new building over the next three years. The loan will be paid back in three equal installments of $776,067 on December 31 of each year. The payments include interest at a rate of 8%. Prepare an amortization schedule over the three-year life of the installment note. (Round your final answers to the nearest dollar amount.)

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On January 1, 2021, Strato Corporation borrowed $2 million from a local bank to construct a new buil...