Epsilon plc had in issue £400,000 6% Debentures as at 31 March 2010 and on 31 December 2010 redeemed £300,000 of these debentures at 10% premium. Interest on debentures was paid annually in arrears on 31 December. No new debentures were issued. Calculate the interest expense in the year to 31 March 2011.

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a £6,000 b £32,500 c £19,500 d £24,000