How much interest expense is incurred

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Reference no: EM13790276

A 1-year, $19,800, 12 percent note is signed on April 1. If the note is repaid on December 1 of the same year, how much interest expense is incurred? (Do not round intermediate calculations.)

$1,584

$2,376

$1,386

$1,782

Reference no: EM13790276

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