The table below provides selected financial data for the Vogon Construction Co. in Years t and t-1.

Selected Financial Information Vogon Construction Co.
	Year t-1	Year t
Interest Expense	49,732
Short-Term Debt	843,244	843,244
Long-Term Debt	2,167,669	2,339,399
Total Liabilities	3,315,560	3,550,755

The company pays an average interest rate of 4.5% on its borrowed funds. What is the interest expense in Year t?