Exercise 8-5 (Algo) Determine interest expense (LO8-2) SK Environmental provides cost-effective solutions for managing regulatory requirements and environmental needs specific to the airline industry. Assume that on July 1 the company issues a one-year note for the amount of $5.9 million interest is payable at maturity. Required: Determine the amount of interest expense that should be reported in the year-end income statement under each of the following Independent assumptions (Enter your answers in dollars, not millions e should be entered as 5,500,000) Interest Rate Fiscal Year End 12% December 31 2 10% September 30 October 31 IN January 31 < 02 W M Q S 64 4 93 S 7 47 J 00 < A - 9 -O 1 O P F F G H J K L E R T Y D X C H command > B N M V- < >> H command