A Question $15($Mandatory$)(3\mathrm{.}57$ points$)$ Retake question

Magenta Company purchased a machine from Pink Corporation on October $31,2024.$ In payment for the $$310,000$ purchase, Magenta issued a one$-$year installment note to be paid in equal monthly payments of $$27,543$ at the end of each month. The payments include interest at the rate of $12\%.$ The amount of interest expense that Magenta will report in its income statement for the year ended December $31,2024,$ is:

$$2,754.$

$$5,956.$

$$3,100.$

$$6,200.$