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$1$. Oreo Limited receives a $7$-year $\$88,000$ zero-interest bearing note the present value of this note is $\$71,552$. Assuming the note was issued on January $1$st, $2023$, and the effective interest method is used the interest income to be recognized or calendar $2023$ is-$\newline$a) $7,0827$ b) $\$2,640$ C) $\$2,146$ d) $\$5,724$.