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 $5.3 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).) 1. 2. 3. 4. Interest Rate 12% 10% 9% 6% ECK M Fiscal Year-End December 31 September 30 October 31 January 31 Interest Expense

SK Environmental provides cost-effective solutions for managing regulatory requirements and environmental needs specific to t airline industry. Assume that on July 1 the company issues a one-year note for the amount of $53 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 followin independent assumptions: (Enter your answers in dollars, not millions (i.e. 5.5 million should be entered as 5,500,000 ).)