Rainier Company borrowed $$610,000$ for six months. The annual interest rate on the loan was $13$ percent. Rainiers fiscal year ends on December $31.$ Rainier borrowed the $$610,000$ one month prior to the start of its current fiscal year and paid back the $$610,000$ plus interest five months into its current fiscal year.

How much interest expense, if any, would Rainier report at the end of its last fiscal year and at the end of its current fiscal year?

HINT: This question asks about notes similar to those we've dealt with prior to Chapter $9!$

$\backslash$table$[[,$Interest Expense$],[$Last year,$],[$Current year,$]]$