Sanders Company is planning to finance an expansion of its operations by borrowing $$50,400.$ City Bank has agreed to loan Sanders the funds. Sanders has two repayment options: $(1)$ to issue a note with the principal due in $10$ years and with interest payable annually or $(2)$ to issue a note to repay $$5,040$ of the principal each year along with the annual interest based on the unpaid principal balance. Assume the interest rate is $11$ percent for each option.

Required:

a$.$ What amount of interest will Sanders pay in year $1$ under option $1$ and under option $2?$ Note: Round your final answers to the nearest dollar amount.

b$.$ What amount of interest will Sanders pay in year $2$ under option $1$ and under option $2?$ Note: Round your final answers to the nearest dollar amount.

c$.$ Which option is more advantageous if Sanders wants to minimize costs?

$\backslash$table$[[,$Option $1,$Option $2],[$a$.$ Year $1$ interest,,$],[$b$.$ Year $2$ interest,,$],[$c$.$ More advantageous option,,$]]$