Patrick Trash Haulers borrowed 35,000 on August 1, 2020. The loan had an interest rate of 9%. The principal is to be repaid on March 31, 2021 . Interest payments are to be made annually. They make adjusting journal entries on the last day of each year. What amount of interest expense would they recognize if their fiscal year ends on November 30, 2020 (round answer to closest dollar)

Group of answer choices

788

1,838

1,050

3,150