Question:Andrews Inc. issues a $497,000, 10% 3-years mortgage note on January 1. The note will be paid in three annual installments of $200,000, each payable at the end of the year. What is the amount of interest expense that should be recognized by Andrews Inc. in the second year? 

A $16,567 

B $49,740 

C $34,670 

D $347,600 

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