Question: Firewood, Inc. signed a three-year note payable for $59,000 at 7% annual interest. What is the interest expense for 2017 if the note was signed

Firewood, Inc. signed a three-year note payable for $59,000 at 7% annual interest. What is the interest expense for 2017 if the note was signed on August 1, 2017? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)

A) $4,130

B) $12,390

C) $1,721

D) $2,065

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