NYJ, Inc. borrowed $500,000 on November 1, 20X1, and signed a nine-month note bearing interest at 8%. Principal and interest are payable in full at maturity.  In connection with this note, NYJ, Inc. should record interest expense in 20X2 in the amount of:   Select one: a. $15,000 b. $20,000 c. $17,500 d. $30,000 e. $23,333

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