Question: Crafty Inc. borrowed $ 1 0 , 0 0 0 with a five - year 7 . 8 1 % annual interest rate on 5

Crafty Inc. borrowed $10,000 with a five-year 7.81% annual interest rate on 5/1/20X1. On their year-end financial statements dated 12/31/20X1, what amount should be reflected for interest expense?
Input your response rounded to a whole number, without commas and without dollar signs

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