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On February 28, 20x0, you borrow $558874 from a bank. The interest of 6% is payable annually each February 28th. The company has a December

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On February 28, 20x0, you borrow $558874 from a bank. The interest of 6% is payable annually each February 28th. The company has a December 31 year- end. The principal will be repaid in two payments of 279437 on February 28, 20x1 and February 28, 20x2. What is the interest expense on the loan at December 31, 20xO? Select one: O a. $ 279437 O b. $ 33532 Oc. $ 27944 O d. $ 5589 Check

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