On December 31, 2015, Vaughn Manufacturing is in financial difficulty and cannot pay a note due that day. It is a $2900000 note with $290000 accrued interest payable to Cullumber, Inc. Cullumber agrees to accept from Vaughn equipment that has a fair value of $1440000, an original cost of $2410000, and accumulated depreciation of $1150000. Cullumber also forgives the accrued interest, extends the maturity date to December 31, 2018, reduces the face amount of the note to $1250000, and reduces the interest rate to 6%, with interest payable at the end of each year. Vaughn should record interest expense for 2018 of O $150000 $225000. O $75000. O $0