Cypress Oll Company's December 31, 2024, balance sheet listed $735,000 of notes receivable and $21,600 of interest recelvable included in current assets. The following notes make up the notes receivable balance: Note 1 Dated 3/31/2024, principal of $340,000 and interest at 122 due on 2/28/2025. Note 2 Dated 6/30/2024, principal of $200,090 and interest due 3/31/2025. Note 35200,000 face value noninterest-bearing note dated 9/30/2024, due 3/31/2025. Note was issued In exchange for nerchandise The company records adjusting entries only at year-end. There were no other notes receivable outstanding during 2024. Required: 1. Determine the rate used to discount the noninterest-bearing note. 2. Determine the explicit interest rate on Note 2 . 3. What is the amount of interest revenue that appears in the company's 2024 income statement related to these notes