On march 1 nunez corporation plans to borrow 350000 from, Ask an Expert

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On March 1, NUNEZ Corporation plans to borrow $350,000 from the Old Brunswick State Bank by signing a 12%, 15-year note payable. The note calls for 180 monthly payments of $4,000, which includes both interest and principal components.

NUNEZ's budgeted interest expense for March is: ??

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