Livermore Industries purchased a supply of electronic components from Nelson Corporation on October $31,2024.$ In payment for the $$1,080,000$ purchase, Livermore issued a $1-$year installment note to be paid in equal monthly payments of $$95,957$ at the end of each month. The payments include interest at the rate of $12\%.$ What is the amount of interest expense that Livermore will report in its income statement for the year ended December $31,2024?$

$$20,080$

$$21,279$

$$20,748$

$$21,600.$