QUESTION 17 Questions #16 - 17 are based on the following: DCL Industries purchased a supply of mechanical components from E Corporation on November 1, 2020. In payment for the $48,000 purchase, DCL issued a one-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 12%. The PV of an ordinary annuity of $1 used to calculate the payments was 11.25508. What is the amount of interest expense that DCL will report in its income statement for the year ended December 31, 2020? O A. 9442 OB. $922 OC. $940 OD. $800