On July $1,$ Shady Creek Resort borrowed $$300,000$ cash by signing a $10-$year, $10\mathrm{.}5\%$ installment note requiring equal payments each June $30$ of $$49,877.$ What amount of interest expense will be included in the first annual payment?

Multiple Choice

$$30,000$

$$18,377$

$$281,623$

$$49,877$

$$31,500$