Business, 12.08.2020 06:01 codyshs160

On January 1, 2017, Ann Price loaned $157773 to Joe Kiger. A zero-interest-bearing note (face amount, $210000) was exchanged solely for cash; no other rights or privileges were exchanged. The note is to be repaid on December 31, 2019. The prevailing rate of interest for a loan of this type is 10%. The present value of $210000 at 10% for three years is $157773. What amount of interest income should Ms. Price recognize in 2017

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On January 1, 2017, Ann Price loaned $157773 to Joe Kiger. A zero-interest-bearing note (face amount...