Universal Travel Incorporated borrowed $$506,000$ on November $1,2024,$ and signed a $12-$month note bearing interest at $7\%.$ Interest is payable in full at maturity on October $31,2025.$ In connection with this note, Universal Travel Incorporated should report interest payable at December $31,2024,$ in the amount of:

Note: Round your final answers to the nearest whole dollar.

Multiple Choice

$$35,420.$

$$23,613.$

$$5,903.$

$$29,517.$