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 $1,200,000. The interest rate charged by the bank was 9%. 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 interent expense