On September 1 . 2012 . Star Corp issued a note payable to Federal Bank in the amount of $450,000 . The note had an interest rate of 1 . percent and called for three equal annual principal payments of $150,000 . The first payment for interest and principal was made on September 1 . 2013 . At December 31 . 2013 . Star should record accrued interest payable of
a. $11,000.
b. $12,000.
c. $16,500.
d. $18,000.
B
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