Marco enterprises issued $10,000 of common stock when the company was started. in addition, malco borrowed $36,000 from a local bank on july 1, year 1. the note had a 6 percent annual interest rate and a one-year term to maturity. malco enterprises recognized $72,500 of revenue on account in year 1 and $85,200 in year 2. malco collected $61,300 on account in year 1 and $71,500 in year 2. malco paid $39,000 of other operating expenses in year 1 and $45,000 of other operating expenses in year 2. malco repaid the loan and all interest at the maturity date. what amount of interest expense would malco report on year 1 income statement?