Rosewood Company made a loan of $$11,600$ to one of the company's employees on April $1,$ Year $1.$ The one$-$year note carried a $6\%$ rate of interest. What is the amount of interest revenue that Rosewood would report in Year $1$ and Year $2,$ respectively?

Multiple Choice

$$696$ in Year $1$ and $$0$ in Year $2$

$$0$ in Year $1$ and $$696$ in Year $2$

$$174$ in Year $1$ and $$522$ in Year $2$