On July $1,2024,$ a company acquired equipment. The company paid $$168,000$ in cash on July $1,2024,$ and signed a $$648,000$ noninterest$-$bearing note for the remaining balance which is due on July $1,2025.$ An interest rate of $5\%$ reflects the time value of money for this type of loan agreement. $($PV of $$1,$ PVA of $$1)$

What amount of interest expense will be reported for its year ended December $31,2024?$

Multiple Choice

$$15,429$

$$30,857$

$$32,400$

$$16,200$