Rocket Tower Inc. borrowed $500,000 cash on April 1, 2018, and signed a oneyear 11%, interestbearing note payable. The interest and principal are both due on March 31, 2019.

1. Assume that the appropriate adjusting entry was made on December 31, 2018 and that no adjusting entries have been made during 2019. What is the amount of interest expense to be recorded when the interest and principal are paid on March 31, 2019? (Round to the nearest dollar. No dollar signs or commas).