On july 31, 2017, culver company engaged minsk tooling company to construct a special-purpose piece of factory machinery. construction was begun immediately and was completed on november 1, 2017. to finance construction, on july 31 culver issued a $327,600, 3-year, 12% note payable at netherlands national bank, on which interest is payable each july 31. $224,600 of the proceeds of the note was paid to minsk on july 31. the remainder of the proceeds was temporarily invested in short-term marketable securities (trading securities) at 10% until november 1. on november 1, culver made a final $103,000 payment to minsk. other than the note to netherlands, culver’s only outstanding liability at december 31, 2017, is a $27,400, 8%, 6-year note payable, dated january 1, 2014, on which interest is payable each december 31?