Bill Darby started Darby Company on January 1, Year 1. The company experienced the following events during its first year of operation: Earned $1,000 of cash revenue. Borrowed $2,700 cash from the bank. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September 1, Year 1, had a one-year term and an 10 percent annual interest rate. Required a. What is the amount of interest payable at December 31, Year 1