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Currie Company borrowed $25,000 from Sierra Bank by issuing a 10% three year note. Currie agreed to repay the principal and interest by making annual

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Currie Company borrowed $25,000 from Sierra Bank by issuing a 10% three year note. Currie agreed to repay the principal and interest by making annual payments in the amount of $5,521. Based on this information, what is the amount of the interest expense associated with the second payment? (Round your answer to the nearest dollar.) Multiple Choice $1,676 $2,500 $2,198 $5,521

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