During the past few years, Joseph Company has taken out the following loans from the bank: 1. On June 1, 2026, Joseph Company borrowed $60,000 on a 13%, 10-month note payable 2. On March 1, 2026, Joseph Company borrowed $39,000 on a 14%, 5-month note payable 3. On April 1, 2027, Joseph Company borrowed $63,000 on a 12%, 8-month note payable 4. On July 31, 2027 Joseph Company borrowed $51,000 on an 8%, 9-month note payable Calculate the total amount of interest expense related to these four loans that Joseph Company would report in its 2027 income statement.

During the past few years, Joseph Company has taken out the following loans from the bank: 1. On June 1,2026 , Joseph Company borrowed $60,000 on a 13%,10-month note payable 2. On March 1, 2026, Joseph Company borrowed $39,000 on a 148,5 -month note payable 3. On April 1, 2027, Joseph Company borrowed $63,000 on a 12%,8-month note payable 4. On July 31,2027 Joseph Company borrowed $51,000 on an 8%, 9-month note payable Calculate the total amount of interest expense related to these four loans that Joseph Company would report in its 2027 income statement