Assume that on July 1, 2021, Togo's Sandwiches issues a $2.57 million, one-year note. Interest is payable at maturity. Determine the amount of interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions: (Enter your answers in dollars, not in millions. Do not round intermediate calculations. Round your answers to the nearest dollar amount.)

interest rate Fiscal Year End Interest Expense

1. 8% December 32

2. 9% September 30

3. 4% October 31

4. 7% January 31