Question: Mason does not elect the fair value option for reporting financial liabilities. What amount should Mason report for interest payable in its December 31, 2010

Mason does not elect the fair value option for reporting financial liabilities. What amount should Mason report for interest payable in its December 31, 2010 balance sheet?

a. $17,500

b. $16,000

c. $11,667

d. $10,667

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