Question: The table below provides selected financial data for the Vogon Construction Co. in Years t and t-1. Selected Financial Information Vogon Construction Co. Year t-1

The table below provides selected financial data for the Vogon Construction Co. in Years t and t-1.

Selected Financial Information Vogon Construction Co.
Year t-1 Year t
Interest Expense 49,732
Short-Term Debt 843,244 843,244
Long-Term Debt 2,167,669 2,339,399
Total Liabilities 3,315,560 3,550,755

The company pays an average interest rate of 4.5% on its borrowed funds. What is the interest expense in Year t?

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