On January 1, 2020, Ann Price loaned $187,825 to Joe Kiger. A zero-interest-bearing note (face amount, $250,000) was exchanged solely for cash; no other rights or privileges were exchanged. The note is to be repaid on December 31, 2022. The prevailing rate of interest for a loan of this type is 10%. The present value of $250,000 at 10% for three years is $187,825. What amount of interest expense should Joe Kiger recognize in 2020?a. $25,000 b. $75,000 c. $56,350 d. $18,783

d. $18,783

Explanation:

Calculation to determine the amount of interest expense that Joe Kiger should recognize in 2020

Using this formula

Interest expense=Present value× Rate of Interest

Let plug in the formula

Interest expense=$187,825 × .10

Interest expense= $18,783 (Approximately)

Therefore the amount of interest expense that Joe Kiger should recognize in 2020 is $18,783

typically a loft will include modern kitchen and bathrooms, this increases the price tag. lofts also have a good amount of open space, this requires more heating and electricity. lofts are also in older buildings, this means that maintaining the location increases the bill. keep in mind this is without talking about the high state and property taxes.

i hope this you! : )

answerthe above statement is false;