On July 1 of the current year, Hal borrows $ 16 comma 000 from the bank for a year. Because the note is discounted for the interest charge and Hal receives proceeds of $ 14 comma 400, he is required to repay the face amount of the loan ($ 16 comma 000) in four equal quarterly payments beginning on October 1 of the current year. Hal is a cash method individual. Read the requirements.LOADING... Question content area bottom Part 1 Requirement a. What is the amount of Hal's interest expense deduction in the current year with respect to this loan? (Complete all input fields. Enter a "0" for a zero amount.) Hal's interest expense deduction in the current year is