A U.S. company, Duncan Corporation hasborrowed 300,000 to do an expansion inaFrench semiconductor factory. If theeurointerest rate is 3.5% per year and the Euro depreciates against the dollar from $1.60/ at the time the loan was made,to $1.53/ at the end of the first year, how much interest will Duncanpay at the end of the first yearin terms of dollars?