On July 1, 2024, Li-Ma Industries issued nine-month notes in the amount of $400 million. Interest is payable at maturity. Required: Determine the amount of interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions: Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10.) Fiscal Year End: Principal (million) x Interest Rate Time Interest Expense December 31, 2024 $ 400 M 14 % 4/12 $ 1 million September 30, 2024 $ 400 13% M 3/12 $ 3 million October 31, 2024 $ 400x 12 % 2/12 $ 3 million January 31, 2025 400 x 9 % x 3/12 = $ 3 million