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SK Environmental provides cost - effective solutions for managing regulatory requirements and environmental needs specific to the airline industry. Assume that on July 1 the

SK Environmental provides cost-effective solutions for managing regulatory requirements and environmental needs specific to the airline industry. Assume that on July 1 the company issues a one-year note for the amount of $4.7 million. Interest is payable at maturity.
Required:
Determine the amount of interest expense that should be reported in the year-end income statement under each of the following independent assumptions: (Enter your answers in dollars, not millions (i.e.5.5 million should be entered as 5,500,000).)
\table[[,Interest Rate,Fiscal Year-End,Interest Expense],[1.,11%,December 31,],[2.,9%,September 30,],[3.,9%,October 31,],[4.,6%,January 31,]]
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