On September 30, 2021, Corso Steel acquired a patent from Thermo Steel. The agreement specified that Corso will pay Thermo $1,175,000 immediately and then another $1,175,000 on September 30, 2023. An interest rate of 7% reflects the time value of money for this type of loan agreement. (PV of $1, PVA of $1) (Use appropriate factor(s) from the tables provided.) What amount of interest expense, if any, would Corso record on December 31, 2021, the companys fiscal year

TABLE 2 Present Value of $1 PV=$ TABLE 4 Present Value of an Ordinary Annuity of $1 PVA=i1(1+i)n1 TABLE 2 Present Value of $1 PV=$ TABLE 4 Present Value of an Ordinary Annuity of $1 PVA=i1(1+i)n1