(ar) > 2021 / 2020 Fall * 2201 - 1 59lected Topics in Accountin - Section = 7 sain 2 On January 2, 2019, Parton Company issues a 5-year - 6%, $1,000,000 note, with interest paid annually. The variable rate is reset at the end of each year. Parton enters into an interest rate swap to pay 6% Fixed and receive LIBOR based on $10 million. The variable rate for the first year is 5.8% on January 2, 2019. The variable rate is reset to 6.6% on January 2, 2020 Instructions .a) Compute the net interest expense to be reported for this note and related swap transactions as of December 31, 2019) .b) Compute the net interest expense to be reported for this note and related swap transactions as of December 31, 2020) N7B A