QUESTION $8$

Fleetwood, Inc. signed a one$-$year note payable for $$48,000$ at $7\%$ annual interest. What is the interest expense for $2025$ if the note was signed on August $1,2025?($Do not round any intermediate calculations, and round your final answer to the nearest dollar.$)$

$$1,680\mathrm{.}00$

$$1,400\mathrm{.}00$

$$10,080$

$$3,360$