Sanders Company is planning to finance an expansion of its operations by borrowing $51,100. City Bank has agreed to loan Sanders the funds. Sanders has two repayment options: (1) to issue a note with the principal due in 10 years and with interest payable annually or (2) to issue a note to repay $5,110 of the principal each year along with the annual interest based on the unpald principal balance. Assume the interest rate is 9 percent for each option. Required a. What amount of interest will Sanders pay in Year 1 under option 1 and under option 2 ? b. What amount of interest will Sanders pay in Year 2 under option 1 and under option 2 ? c. Which option is less costly in the long run? Complete this question by entering your answers in the tabs below. What amount of interest will Sanders pay in Year 1 under option 1 and under option 2? (Round your final answers to the nearest dollar amount.) What amount of Interest will Sanders pay in Year 2 under option 1 and under option 2? (Round your final answers to the nearest dollar amount.) Which option is less costly in the long run