Bill Darby started Darby Company on January 1, Year 1. The company experienced the following events during its first year of operation: Earned $1,400 of cash revenue. Borrowed $2,800 cash from the bank. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September 1, Year 1, had a one-year term and an 5 percent annual interest rate. Required What is the amount of interest expense in Year 1