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Mission Corporation borrowed $50,000 cash on April 1, 2022, and signed a one-year, 12% interest-bearing note payable. The interest and principal are both due on

Mission Corporation borrowed $50,000 cash on April 1, 2022, and signed a one-year, 12% interest-bearing note payable. The interest and principal are both due on March 31, 2023. The amount of interest expense for the year ended December 31, 2022 is:

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