On january 1, 2014, mixon co. borrowed cash from first city bank by issuing a $90,000 face value, three-year term note that had a 7 percent annual interest rate. the note is to be repaid by making annual cash payments of $34,295 that include both interest and principal on december 31 of each year. mixon used the proceeds from the loan to purchase land that generated rental revenues of $45,000 cash per year. 3.value: 0.57 pointsrequired information required a. prepare an amortization schedule for the three-year period.