I am looking for help with part b online. I included the answer to part a if that helpful in solving for part b. Thank you.

On September 30, 2017, Ericson Company negotiated a two-year, 3,100,000 dudek loan from a foreign bank at an interest rate of 4 percent per year. It makes interest payments annually on September 30 and will repay the principal on September 30, 2019. Ericson prepares U.S.-dollar financial statements and has a December 31 year-end. a. Prepare all journal entries related to this foreign currency borrowing assuming the following exchange rates for 1 dudek: September 30, 2017 December 31, 2017 September 30, 2018 December 31, 2018 September 30, 2019 $ 0.200 0.205 0.220 0.225 0.250 b. Taking the exchange rate effect on the cost of borrowing into consideration, determine the effective interest rate in dollars on the loan in each of the three years 2017, 2018, and 2019. Required A Required B Prepare all journal entries related to this foreign currency borrowing assuming the above exchange rates for 1 dudek. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Date General Journal Debit Credit 1 09/30/2017 620,000 Cash Note payable (dudek) 620,000 2 12/31/2017 6,355 Interest expense Interest payable (dudek) 6,355 Oo oo | 3 12/31/2017 15,500 Foreign exchange loss Note payable (dudek) 15,500 09/30/2018 Interest expense Interest payable (dudek) Foreign exchange loss Cash 20,460 6,355 465 27,280 5 12/31/2018 6.975 Interest expense Interest payable (dudek) 6,975 12/31/2018 62,000 Foreign exchange loss Note payable (dudek) 62,000 09/30/2019 Interest expense Interest payable (dudek) Foreign exchange loss Cash 23,250 6,975 775 31,000 8 09/30/2019 Note payable (dudek) Foreign exchange loss Cash Required A Required B Taking the exchange rate effect on the cost of borrowing into consideration, determine the effective interest rate in dollars on the loan in each of the three years 2017, 2018, and 2019. (Do not round intermediate calculations.) Effective Cost Borrowing 2017 2018 2019