Question: Lotus Corp. signed a 5 month note payable in the amount of $26,000 on November 1 . The note requires interest at an annual rate

Lotus Corp. signed a 5 month note payable in the amount of $26,000 on November 1 . The note requires interest at an annual rate of 6%. Calculate the amount of interest to be accrued at the end of December. (Please note that answers should be rounded to the nearest dollar amount, ie. $1,666.67 should be entered as 1,667 )

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