Question: Express Jet borrows $ 1 0 0 million. on October 1 for one year at 6 % interest. For what amount does Express Jet report

Express Jet borrows $100 million. on October 1 for one year at 6% interest. For what amount does Express Jet report interest expense for the year ended
December 31 of the following year?
Multiple Choice
$1.5 million.
$4.5 million.
$6 million.
$0.
Express Jet borrows $100 million. on October 1 for one year

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