Tran Company acquired an equipment from a manufacturer on June 30, 2018 and signed a $540,000, 18 month interest-bearing note in exchange. The company is obligated to pay a total of $562,500 when the note matures. Determine accrued interest on December 31, 2018? C. $7,500 is the Answer. Please explain how you get to this answer and explain math computation thoroughly.

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