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Sandusky Company borrowed $13,000 from the Lakeside Bank by issuing a 11% four-year installment note. Sandusky agreed to repay the interest by making annual

Sandusky Company borrowed $13,000 from the Lakeside Bank by issuing a 11% four-year installment note. Sandusky agreed to repay the interest by making annual payments in the amount of $4,190.24. Based on this information, the amount of the interest expense associated second payment would be: (round your answer to the nearest dollar) Multiple Choice $1,397 $1,430. $466 $1,126.

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