Universal Travel, Incorporated borrowed $$514,000on$ November $1,$ Year $1,$ and signed a twelve$-$month note bearing interest $at9\%.$ Principal and interest are payable $in$ full $at$ maturity $on$ October $31,$ Year $2.$ What $is$ the amount $of$ interest payable that should $be$ reported $by$ Universal Travel, Incorporated $on$ December $31,$ Year $2?$

Multiple Choice

$$24,260$

$$46,260$

$$7,710$

$$0$