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Currie Company borrowed $14,000 from the Sierra Bank by issuing a 11% three - year note. Currie agreed to repay the principal and interest by

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Currie Company borrowed $14,000 from the Sierra Bank by issuing a 11% three - year note. Currie agreed to repay the principal and interest by making annual payments in the amount of $4,421. Based on this information, the amount of the interest expense associated with the second payment would be: (Round your answer to the nearest dollar.) Multiple Choice $4,421 $772. $1,540. $1,223

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