On September 1, 2012, Coral Equipment signed a one-year 8% interest-bearing note payable for $50,000. Assuming that Coral Equipment maintains its books on a calendar year basis, the amount of interest expense that should be reported on the 2013 income statement for this note would be (rounded to the nearest dollar): 0 $2,667 $4,000 O $1,333 O $3,000 0 $2,333