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On January 1,2011,Ajax Corporation Signed a $1,000,000,7%,10-Year Mortgage Note to Buy

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On January 1,2011,Ajax Corporation signed a $1,000,000,7%,10-year mortgage note to buy a new warehouse.The note will be repaid in 10 equal annual installments of $142,378.Over the 10-year period,as each installment payment is made,the portion of the payment that is used to reduce the principal will ________.


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