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On October 1 , 2025, Hope Company borrowed $74,000 from a bank on a 6%,11-month note payable. On June 1, 202 6 , Hope Company

image text in transcribed On October 1 , 2025, Hope Company borrowed $74,000 from a bank on a 6%,11-month note payable. On June 1, 202 6 , Hope Company borrowed $27,000 from a bank on a 10 -mont h, 14%, note payable. Calculate the total amount of interest expense related to these two loans that Hope company would report in its 2026 income statement

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