On January 1,2018,Earnest Company Purchased Equipment and Signed a Six-Year

On January 1,2018,Earnest Company purchased equipment and signed a six-year mortgage note for$80,000 at 15%.The note will be paid in equal annual installments of $21,139,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) $12,086
B) $12,000
C) $21,139
D) $9053