Question: Steed Company prepared a promissory note with a face value of $50,000, payable after 50 days, at a rate of 19%. Calculate the interest amount

Steed Company prepared a promissory note with a face value of $50,000, payable after 50 days, at a rate of 19%. Calculate the interest amount of the promissory note. Assume 365 days in a year. (Round to the nearest dollar.)

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