On November 1, xxxl, the company issued an interest-bearing note payable to Credit Union. The principal amount was $22,200, a six-months term, and an annual interest of 12%. (4 points) 8. Determine the amount of interest expense for the first year xxx1 a) $444 b) $2,664 c) $222 You MUST show your calculations: (4 points) 9. Determine the amount of interest expense for the second year xxx2. a) $888 b) $1,332 c) $444 You MUST show your calculations