Question: Eagle corp issues a $ 1 , 2 6 7 , 9 4 8 , 1 0 % , 4 year notes payable on january

Eagle corp issues a $1,267,948,10%,4 year notes payable on january 1st 2024. The note will be repaid in 4 annual installments of $400,000, each payable at the end of each year. What is the amount of interest expense that should be recorded by eagle corp in the second year( i.e. year 2025)? Round to nearest dollar

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