Question 50 of 50 Among the items in the financial statements for 20X1, Kadan Company reported the information below. (This is not a complete list of all of the financial statement items.) Accounts receivable $200 Inventory $400 Property, plant, and equipment $1,000 Accounts payable $100 . Long-term loans payable $800 Sales $10,000 . Cost of goods sold $7,500 .Depreciation expense $250 Interest expense $60 In 20X2, sales are expected to increase from $10,000 to $13,000. On January 1, 20X2, Kadan plans to purchase new property, plant, and equipment, increasing the balance from $1,000 to $1,500. Also on January 1, 20X2, Kadan plans to obtain new long-term loans, increasing the loan balance from $800 to $1,600. What is a reasonable forecast of the amount of interest expense in 20X2?