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 ofinterest expense related

to these four loans that Joseph Company would report in

its2027income statement.