Record the first annual interest payment, record interest expense for the period $01/01/202409/30/2024,$ and record a foreign exchange gain or loss on the interest payable accrued at $12/31/2023.$

Record to revalue the note payable at the spot rate, and record the foreign exchange gain or loss thereof.

Record the second annual interest payment, record interest expense for the period $01/01/202509/30/2025,$ and record a foreign exchange gain or loss on the interest payable accrued at $12/31/2024.$

Taking the exchange rate effect on the cost of borrowing into consideration, determine the U$.$S$.$ dollar "effective borrowing rate" on the loan in each of the three years $2023,2024,$ and $2025.$

Required B

Taking the exchange rate effect on the cost of borrowing into consideration, determine the effective interest rate in U$.$S$.$ dollars on the loan in each of the three years $2023,2024,$ and $2025.$

Note: Do not round intermediate calculations.