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Sunland Electronics issues a $448,500, 7%, 15-year mortgage note on December 31, 2019. The proceeds from...

Sunland Electronics issues a $448,500, 7%, 15-year mortgage note on December 31, 2019. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for annual installment payments, exclusive of real estate taxes and insurance, of $63,856. Payments are due on December 31.

(a) Prepare an installment payments schedule for the first 4 years

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