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 interest expense will ________.
A) increase
B) decrease
C) stay the same
D) The answer cannot be determined from the information given.
B
Business
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The principle of the doctrine of prior appropriation determines
A) which users water rights have priority. B) who owns the pictures. C) how personal property is distributed. D) who has access to water rights.
Business
If a viable firm is not growing but is expected to continue over time, then we would expect capital expenditures to be equal to:
A) sales. B) depreciation. C) EBIT. D) taxes payable.
Business