Indicate the total cost of borrowing for each option assumed in part (a). eTextbook and Media List of Accounts (c) Show the balance sheet presentation for each option assumed in part (a) at December 31, 2027. Elizabeth Brown is seeking financing for her new business venture, the development of a local ski hill. She has found two possible sources of financing: (1) a mortgage payable and (2) a note payable. She can borrow $230,000 on January 1,2027 , from either, but the repayment terms differ. Mortgage payable details: $230,000 mortgage with an annual interest rate of 8%. The loan is repayable over 5 years in annual installments of $57,605, principal and interest, due each December 31 . The first payment is due December 31, 2027, and the last on December 31, 2031. Long-term note details: $230,000,5-year note with an annual interest rate of 6%. Annual interest is due each December 31 . The principal is due January 1,2032. (a) Indicate the interest expense for the year ending December 31, 2027, assuming Brown chooses (1) the mortgage payable and (2) the note payable