Determine the due date and amount of interest due at maturity on the following notes (Assume 360 days in a year):
Definitions:
Straight-Line Method
A method of calculating the depreciation of an asset that evenly spreads out its cost over its useful life.
Entertainment Expenses
Costs for business-related entertainment that may be partially deductible under certain conditions.
Listed Property
Assets required to be reported for tax purposes because they have the potential for personal use, such as cars, computers, and real property.
Standard Mileage Rate
The IRS-set rate per mile that taxpayers can use to calculate deductions for business, charitable, medical, or moving purposes when using a vehicle.
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