November 1, 2014, EZ Products borrowed $48,000 on a 5%, 10 year note with annual installment payments of 4800+ interest do you want November 1 of each succeeding here. How much interest expense should be accrued at December 31, 2014 for a period of November 1 through year end?

a.) $1200

b.) $2400

c.) $400

d.) $200

how do you compute this???