! Required information [The following information applies to the questions displayed below.] On April 15, 2019, Powell Inc. obtained a six-month working capital loan from its bank. The face amount of the note signed by the treasurer was $440,900. The interest rate charged by the bank was 9.25%. The bank made the loan on a discount basis. b. Calculate the amount of interest expense applicable to this loan during the fiscal year ended June 30, 2019. Interest expense