On January 1, 2018, Allgood Company purchased equipment and signed a six-year mortgage note for $110,000 at 15%. The note will be paid in equal annual installments of $29,066, beginning January 1, 2019. Calculate the portion of interest expense paid on the third installment. (Round your answer to the nearest whole number.) OA. $16,500 OB. $97,434 C. $12,447 OD. $29,066