Fortsman Inc. began operations on January 1, 20X4. It prepares financial statements in accordance with IFRS. The following is a summary of selected financial information for the year ended December 31, 20X4: Equipment was purchased and brought into use on March 1, 20x4, at a cost of $300,000. Fortsman paid $80,000 cash and signed a 3% note for the balance payable in full on March 1, 20X6. Fortsman received a $250,000 shareholder loan that was advanced on May 1, 20X4. Interest is payable annually at 5%. Fortsman received $150,000 in proceeds from a bank loan that was advanced on June 1, 20X4. Interest is payable monthly on the first of the month at 4% per annum, starting July 1, 20X4. Fortsman made interest payments of $8,000 during the 20X4 year. What amount should Fortsman have reported as interest expense for the year ended December 31, 20X4? For ease of computation, base your interest calculations on whole months outstanding, rather than number of days outstanding. a) $ 8,000 b) $ 9,333 c) $17,333 d) $19,333