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Indebt Corp borrowed $800,000 on August 1, 2019. The loan must be paid back in 5 years and has an annual interest rate of 6%.

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Indebt Corp borrowed $800,000 on August 1, 2019. The loan must be paid back in 5 years and has an annual interest rate of 6%. Interest payments are due on August 1 of each year. What interest expense should indebt record related to this loan for 2019? Note: Indebt's fiscal year ends on December 31. O 20,000 48.000 0 36,000 16,000 O 12,000

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