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The company is incorporated on January 1, 2018. January 1st - the company borrows money from the bank by signing a promissory note in the

The company is incorporated on January 1, 2018. January 1st - the company borrows money from the bank by signing a promissory note in the amount of $44520. The principal on the loan is due in 2 years. interest (at a rate of 10%) is accrued at the end of each month and is payable at the end of each year, beginning December 31, 2018. Interest Expense?

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