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JB 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

JB 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 $5.7 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

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