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Universal Travel Incorporated borrowed $507,000 on November 1,2024 , and signed a 12 -month note bearing interest at 5%. Interest is payable In full at

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Universal Travel Incorporated borrowed $507,000 on November 1,2024 , and signed a 12 -month note bearing interest at 5%. 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 $21,125. $25,350 $4,225. $16,900

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