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15 Our company borrowed $100,000 on November 1, Year 1, and will pay both the five-month note and the interest in Year 2. The interest

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15 Our company borrowed $100,000 on November 1, Year 1, and will pay both the five-month note and the interest in Year 2. The interest rate is 6% per year. How much interest expense will our company incur in Year 1, if our fiscal year ends December 31? A None B $1,000 C $2,500 D $1,500

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