A Moving to another question will save this response. Question 1 Question 1 of 10 > >> Save Answer 3 points On July 1, 2020, Muse Company (a U.S.-based company) borrowed 300,000 euros for one year at an interest rate of 4 percent per annum. Muse will pay the interest on June 30, 2021, when the loan is repaid. Muse prepares U.S. dollar financial statements and has a December 31 year-end. What is the total U.S. dollar borrowing cost on the 300,000 euros note payable? In other words, what is the impact of this borrowing on Muse's net income over the two accounting periods? Spot Rate Date (U.S. Dollar per Euro) July 1, 2020 $1.20 December 31, 2020 $1.24 June 30, 2021 $1.25 $30,000 $12,000 $15,000 O $22,560