Question: A one-year, $26,400, 8% note is signed on April 1. If the note is repaid on August 1 of the same year, how much interest

A one-year, $26,400, 8% note is signed on April 1. If

A one-year, $26,400, 8% note is signed on April 1. If the note is repaid on August 1 of the same year, how much interest expense is incurred? (Do not round intermediate calculations.) Multiple Choice $528 $704 $2,112 $880

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