On January 1, 2018, Earnest Company purchased equipment and signed a sixminusyear mortgage note for $ 110 comma 000 at 15 %. The note will be paid in equal annual installments of $ 29 comma 066 , beginning January 1, 2019. Calculate the portion of principal paid on the third installment. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A. $ 29 comma 066 B. $ 12 comma 447 C. $ 16 comma 500 D. $ 16 comma 619
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