Baker Corp.'s liability account balances at June 30, 20times2 included a 10 percent note payable in the amount of $1,000,000. The note is dated October 1, 20times0 and is payable in three equal annual payments of $500,000 plus interest. The first interest and principal payment was made on October 1, 20times1. In Baker's June 30, 20times2 balance sheet, what amount should be reported as accrued interest payable for this