Georgia International Borrowed $1,000,000 for Eight Months from Its Bank

Georgia International borrowed $1,000,000 for eight months from its bank during the current year. Interest is payable in full on the due date of the note.
Required: Determine the amount of interest expense for the current year based on the following borrowing dates, fiscal year end dates, and interest rates.
$$\begin{array} { | l | c | c | c | } \hline \text { Borrowing Date } & \text { Year-End Date } & \text { Interest Rate } & \text { Interest Expense } \\\hline \text { June 1 } & \text { October 31 } & 10 \% & \\\hline \text { September 30 } & \text { December 31 } & 6 \% & \\\hline \text { August 1 } & \text { December 31 } & 8 \% & \\\hline \text { May 1 } & \text { August 31 } & 9 \% & \\\hline\end{array}$$

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