Question 8 1 pts In 2012 Thompson Corporation was debt free, but on January 19, 2013 the firm required a significant amount of capital and decided to borrow from banks by signing a 5-year installment loan (for simplicity, assume one installment of $30,000 per year). Thompson's interest expense was $27,000 during the year ended on December 31st, 2013. How much of the loan balance was reduced by December 31st 2013 (i.e. how much is the reduction in the loan balance during the first year of the loan term)? (A) $27.000 (B) $3,000 O (C) $30,000