On September 1, 2019, Donna Equipment signed a one-year, 8% interest bearing note payable for $100,000. Assuming Donna maintains its books on a calendar year basis, the amount of interest expense that should be reported in the 2020 income statement for this note would be (assume 12 months per calendar year):

Select one:

a. $5,333

b. $1,333

c. $3,000

d. $4,000

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