On Oct.31, 20X1, Havert Company incurs a 20-year $500,000 mortgage liability in conjunction with the purchase of a factory. This is payable in equal monthly installments of $5,000 which include interest computed at an annual rate of 9%. The first monthly payment is made on November 30, 20X1. This mortgage is fully amortizing over 240 months. Round. 1.Compute interest expense for the first monthly payment. 2. Compute the principal repayment for the first payment. 3. Compute interest expense for the first second payment. 4. Compute the principal repayment for the second payment. 5. What is the total outstanding liability at Dec. 31, 20X1?